Following a persistant reliability problem that is proving difficult for the team's engine supplier to solve, billionaire Mateschitz reportedly urged Renault to simply dump Magneti Marelli.
"This statement has surprised us," the Italian supplier's motor sport boss Roberto Dalla told La Gazzetta dello Sport.
"I will not comment, because I don't understand it.
"All the analysis that we have done has shown that the part has no problem. It has failed probably because of the exceptional mechanical stress it is exposed to," added Dalla.
During free practice two in Singapore on Friday night, British broadcaster Sky's pitlane pundit Ted Kravitz said he has learned that Renault will not be dumping Magneti Marelli.