The company was founded in Munich in 1916 by the design engineer Franz Joseph Popp. The abbreviation BMW arose from the name of the plant Bayerische Motoren Werke AG (Bavarian Motor Works). It is interesting that originally BMW produced only aircraft engines. The BMW logo hides the colors of the Bavarian flag - silver and white (symbolizing steel) and blue (symbol of the sky). These symbols are recognized by billions of people around the world. Popularly, the logo of this concern is sometimes called "paddles," which is quite symbolic, given the original business of the concern.
In 2014, record high sales made the automobile concern BMW the world leader in the production of luxury cars. In addition to passenger cars, the company produces sports cars, pickup trucks, SUVs, as well as motorcycles and bicycles.