Apple 'Is Assessing The Auto Industry,' According To Citigroup

In a report published Tuesday, Citigroup analyst Jim Suva wrote that

is believed to be assessing the auto industry in "much greater matter" than Apple CarPlay. Various media reports suggested that Apple is considering pursuing an all-electric vehicle. It is unclear if the vehicle will be a fully self-driving car or simply a high-end luxury vehicle to rival

Suva cited The

's report that Apple met with a contract manufacturer Magna Steyr who manufacturers vehicles for Mercedes, BMW and Peugeot. The analyst added that the manufacturer is expected to produce 140,000 cars in 2015 despite the plant capacity nearing 200,000. "Apple's reported interest perhaps suggests a limited initial intent on building its own manufacturing footprint or partnering with an existing automaker (as

has been reportedly open to doing)," Suva wrote. "It also may suggest a modest initial volume ambition, which makes sense considering premium electric vehicle price points." Finally, Suva commented that Apple is assessing an expansion in to other industries including TV, cable content transmission, solar utilities, transaction payments, music, movie and content distribution and more.