Bayerische Motoren Werke AG(pronunciation(helpinfo); English: Bavarian Motor Works), commonly known asBMWorBMWAG, is a German automobile, motorcycle and engine manufacturing company founded in 1916. BMW isheadquarteredinMunich,Bavaria,Germany. It also owns and producesMinicars, and is the parent company ofRolls-Royce Motor Cars. BMW produces motorcycles underBMW Motorrad, andplug-in electric carsunder theBMW isub-brand. BMW is part of the "German Big 3" luxury automakers, along withAudiandMercedes-Benz, which are the three best-selling luxury automakers in the world.[3][4]BMW was established as a businessentityfollowing a restructuring of theRapp Motorenwerkeaircraftmanufacturing firm in 1917. After the end ofWorld War Iin 1918, BMW was forced to cease aircraft-engine production by the terms of theVersailles Armistice Treaty.[5]The company consequently shifted to motorcycle production as the restrictions of the treaty started to be lifted in 1923,[6]followed by automobiles in 192829.[7][8][9]The first car which BMW successfully produced and the car which launched BMW on the road to automobile production was theDixi, it was based on theAustin 7and licensed from theAustin Motor Companyin Birmingham, England.BMW's first significant aircraft engine (and commercial product of any sort) was theBMW IIIainline-six liquid-cooled engine of 1918, much preferred for its high-altitude performance.[10]With German rearmament in the 1930s, the company again began producing aircraft engines for theLuftwaffe. Among its successful World War II engine designs were theBMW 132andBMW 801air-cooledradial engines, and the pioneeringBMW 003axial-flowturbojet, which powered the tiny, 19441945era jet-powered "emergency fighter", theHeinkel He 162Spatz. The BMW 003 jet engine was first tested as a prime powerplant in the first prototype of theMesserschmitt Me 262, the Me 262 V1, but in 1942 tests the BMW prototype engines failed on takeoff with only the standbyJunkers Jumo 210nose-mounted piston engine powering it to a safe landing.[11][12]The few Me 262 A-1b test examples built used the more developed version of the 003 jet, recording an official top speed of 800km/h (497mph). The first-ever four-jet aircraft ever flown, the sixth and eighth prototypes of theArado Ar 234jet reconnaissance-bomber, used BMW 003 jets for power. The improving reliability of the 003 as 1944 progressed, earmarked it as the required powerplant for airframe designs competing for theJgernotprogramm'slight fighterproduction contract, won by theHeinkel He 162Spatzdesign. The BMW 003 aviation turbojet also found itself under consideration as the basic starting point for a pioneeringturboshaftpowerplant for German armored fighting vehicles in 194445, as theGT 101.[13]Towards the end of the Third Reich BMW developed some military aircraft projects for theLuftwaffe, theBMW Strahlbomber, theBMW Schnellbomberand theBMW Strahljger, but none of them were built.[14][15]By the year 1958, the automotive division of BMW was in financial difficulties and a shareholders meeting was held to decide whether to go into liquidation or find a way of carrying on. It was decided to carry on and to try to cash in on the current economy car boom enjoyed so successfully by some of Germany's ex-aircraft manufacturers such asMesserschmittandHeinkel. The rights to manufacture the ItalianIso Isettawere bought; the tiny cars themselves were to be powered by a modified form of BMW's own motorcycle engine. This was moderately successful and helped the company get back on its feet. The controlling majority shareholder of the BMWAktiengesellschaftsince 1959 is the Quandt family, which owns about 46% of the stock. The rest is inpublic float.BMW acquired theHans Glascompany based inDingolfing, Germany, in 1966. Glas vehicles were briefly badged as BMW until the company was fully absorbed. It was reputed that the acquisition was mainly to gain access to Glas' development of the timing belt with an overhead camshaft in automotive applications,[16]although some saw Glas' Dingolfing plant as another incentive. However, this factory was outmoded and BMW's biggest immediate gain was, according to themselves, a stock of highly qualified engineers and other personnel.[17]The Glas factories continued to build a limited number of their existing models, while adding the manufacture of BMW front and rear axles until they could be closer incorporated into BMW.[18]

BMW 3-Series (F30)In 1992, BMW acquired a large stake in California basedindustrial designstudioDesignworksUSA, which they fully acquired in 1995. In 1994, BMW bought the BritishRover Group[19](which at the time consisted of theRover,Land RoverandMGbrands as well as the rights to defunct brands includingAustinandMorris), and owned it for six years. By 2000, Rover was incurring huge losses and BMW decided to sell the combine. The MG and Rover brands were sold to the Phoenix Consortium to formMG Rover, while Land Rover was taken over byFord. BMW, meanwhile, retained the rights to build the newMini, which was launched in 2001.Chief designerChris Bangleannounced his departure from BMW in February 2009, after serving on the design team for nearly seventeen years.[20]He was replaced byAdrian van Hooydonk, Bangle's former right-hand man. Bangle was known for his radical designs such as the 2002 7-Series and the 2002 Z4. In July 2007, the production rights forHusqvarna Motorcycleswas purchased by BMW for a reported 93 million euros.BMW Motorradplans to continue operating Husqvarna Motorcycles as a separate enterprise. All development, sales and production activities, as well as the current workforce, have remained in place at its present location at Varese.In June 2012, BMW was listed as the #1 most reputable company in the world by Forbes.com.[21]Rankings are based upon aspects such as "people's willingness to buy, recommend, work for, and invest in a company is driven 60% by their perceptions of the company and only 40% by their perceptions of their products."