BMW (Bayerische Motoren Werke AG) was founded in 1916 in Munich, [[Germany]], initially as a manufacturer of aircraft engines. The company was founded by Franz Josef Popp, Karl Rapp, and Camillo Castiglioni. Key developments: - 1916: Founded as aircraft engine manufacturer - 1928: Began automobile production - 1959: Avoided takeover by Daimler-Benz - 1994: Acquired Rover Group (later sold) - 2003: Acquired Rolls-Royce Motor Cars Ownership: - Publicly traded company - Major shareholders include: * Quandt family (about 47% combined): - Susanne Klatten (~19%) - Stefan Quandt (~29%) * Institutional and retail investors * Listed on Frankfurt Stock Exchange The company has evolved from its aviation origins to become one of the world's leading premium automobile manufacturers, with additional brands including MINI and Rolls-Royce Motor Cars. Known for luxury vehicles and motorcycles, BMW maintains significant manufacturing facilities globally while keeping its headquarters in Munich.