What is the full form of BMW
BMW: Bayerische Motoren Werke
BMW stands for “Bayerische Motoren Werke”. It is an automobile manufacturing company based in Munich, Germany. BMW produces luxury and sports cars as well as motorcycles under the BMW Motorrad division. The company also owns the Mini and Rolls-Royce brands. The logo of the company is designed to resemble an aircraft propeller and the company is famous for its tagline “Ultimate Driving Machines”. As of 2012, it is one of the most trusted and admired automobile manufactures besides Mercedes-Benz and Audi.
History
- BMW was founded in 1916 by Franz Josef Popp. The company started with the manufacturing of aircraft engines which were used by the German Air Force.
- In 1918, after First World War, the company was forced to stop the production of aircraft engines. So, in 1923, it started manufacturing motorcycles.
- In 1929, the company switched to automobile manufacturing after acquiring Fahrzeugfabrik Eisenach factory. The first car produced by BMW was named “Dixi”.
- In 1936, BMW produced 328 sports car which enjoyed incredible success and nominated as car of the century in 1999.
- In the 1960s, the company produced BMW 1500, a four-cylinder sports car and BMW 2002, a two door car which was the predecessor of the BMW 3 series.
- In the 1970s, BMW launched its 3, 5 and 7 series.
- In 1972, it has introduced a new wholly-owned subsidiary (BMW Motorsport GmbH) to bring together its motor racing activities.
- In 1987, it opened a new plant in Regensburg to meet the growing demand for the BMW 3 Series model.
- In the 1990s, it acquired the British Rover Group but it was not a profitable acquisition so BMW sold the Rover Group to Phoenix Consortium.
- In 1994, it opened a plant in Spartanburg, South Carolina especially for the production of the BMW Z3 Roadster.
- In 2000, it decided to focus solely on the BMW, MINI and Rolls-Royce Motor Cars in the international automobile market.
- In 2001, it launched the new MINI, a premium car in the small-car segment.
- In 2013, it released the electric i3, an urban electric car.
Today, BMW is known for the design and quality of its cars and is one of the most trusted and admired automobile manufacturer.
CEO
Harald Kruger joined the BMW in 1992. He has been the CEO and Chairman of the Board of Management at BMW since May 13, 2015.
Owners
As of 2016, Stefan Quandt and his sister, Susanne Klatten are the owners of BMW. Stefan owns 29% of the shares of the company and Susanne owns 21% of the shares of the company.