Michelin has played down claims that the International Automobile Federation (FIA) wants it out of Formula One.
FIA chief Max Mosley blamed Michelin for the US Grand Prix farce, and it is thought the FIA favours having one tyre supplier when the current deal expires.
"I don't suspect the FIA of any idea like that," said Michelin motorsport director Pierre Dupasquier.
"Don't we do a good job and make good racing in all disciplines? We couldn't understand something like that."
Michelin and Japanese company Bridgestone both supply tyres to F1, but the current deal expires in 2008, when the FIA has suggested it would like to move to just one supplier.