BMW
BMW | |
---|---|
Founded | 7 March 1916 |
Headquarters | Munich, Germany |
Industry | Motor Vehicle Manufacturing |
Area Served | Worldwide |
Key People | Camillo Castiglioni(Founder) Franz Josef Popp(Founder) Karl Rapp (Founder) |
Market Capital | €62.06 billion (2023) |
Annual Revenue | €142.610 billion (2022) |
Operating Income | €23.509 billion (2022) |
Net Income | €18.582 billion(2022) |
Total Assets | €246.926 billion(2022) |
Total Equity | €91.288 billion (2022) |
Owners | Public float (50.7%)
Stefan Quandt (25.8%, 25.6% through holdings and 0.2% directly) Susanne Klatten (20.9%, 20.7% through holdings and 0.2% directly) (as of Jun 2023) |
Number of Employees | 149,475 (2022) |
Website | https://www.bmw.com |
Social Media | Facebook, Youtube, Instagram |
Notes | Specializes in automobiles and EV chargers. |
Overview
Most people are familiar with the name of BMW, the full form of BMW Bayerische Motoren Werke AG, BMW began in 1916 when they specialized in the manufacture of aircraft engines during the First World War. BMW is based in Munich, Bavaria, Germany but today they are famous for manufacturing luxury vehicles and motorcycles.
BMW Motorrad is the brand under which their bikes are sold and the company is pleased to carry several automotive brands including BMW, Mini and Rolls-Royce. With a staggering 2,279,503 automobiles produced, the firm ranked as the fourteenth largest motor vehicle manufacturer in the world in 2017. By 2022, BMW has risen to the seventh position among all car manufacturers in the world in terms of revenue In particular, the brand has a long history in automobiles, sports cars and touring the Isle of Man TT.
BMW's global production facilities are located in Germany, Brazil, China, India, Mexico, the Netherlands, South Africa, the United Kingdom, and the United States. The Quandt family has been a consistent and long-standing shareholder since 1959, when their investment, made by brothers Herbert and Harald Quandt, prevented BMW from going bankrupt and allowed the public to purchase the remaining shares.
History
BMW was founded at the beginning of the 20th century as a result of the merger of several businesses and inventions. When Gustav Otto launched Otto Flugmaschinenfabrik in Bavaria in 1910, the narrative officially began. It was then reorganized on March 7, 1916, and became Bayerische Flugzeugwerke AG.
The crucial change came when company became formally known as Bayerische Motoren Werke (BMW) in 1922. Surprisingly, Rapp Motorenwerke GmbH, the original company holding that name, was founded by Karl Rapp in 1913, which is when the term BMW first appeared.
The name and assets were given to Bayerische Flugzeugwerke in 1922, the year that the BMW brand was formally adopted. Engineer Max Friz created the BMW IIIa, a straight-six aviation engine, as the company's first product in 1917.
Following the First World War, BMW expanded its product line to include household goods, railway brakes, motorcycle engines, and farm equipment. The business entered the motorcycle industry with the introduction of the BMW R 32 in 1923.
In 1928, BMW made its debut in the automotive sector when it bought Fahrzeugfabrik Eisenach, a company that manufactured Austin Sevens under the Dixi brand. The BMW 3/15, which was really a rebadged Dixi, was the first vehicle to carry the BMW name. BMW added larger luxury automobiles and sports cars to its inventory during the 1930s.
World War II saw BMW focus on aircraft engine production, employing up to 40,000 slave laborers, primarily prisoners from concentration camps. Post-war, the company's factories were heavily bombed, and their West German facilities were barred from producing vehicles or aircraft.
BMW's resurgence came from the production of pots, pans, and bicycles. In 1948, they resumed motorcycle production, and in 1952, car production restarted with the BMW 501 luxury saloon. The introduction of the affordable Isetta microcar in 1955 expanded the range, but the company faced financial hardship and a near-takeover by Daimler-Benz in 1959.
But the Quandt family's large investments ensured BMW's independence. The classic New Class sedans were developed in 1962 as a result of the company's resurgence, which was greatly aided by the compact BMW 700. This was the catalyst for BMW's rise to prominence as a top producer of performance vehicles. BMW added coupés, luxury sedans, the 5 Series, 3 Series, 6 Series, and 7 Series, as well as their prestigious M division, which produced the M5 in 1984 and the M3 in 1986, to their portfolio throughout time.
The company made key acquisitions, including the Rover Group in 1994 (though not without challenges), and the rights to the Rolls-Royce brand from Vickers Plc in 1998. BMW ventured into the SUV market with the 1999 BMW X5 and expanded its lineup further with innovations like turbocharged petrol engines and hybrid vehicles in the 2000s.
BMW demonstrated its dedication to innovation in the twenty-first century by announcing intentions to develop hydrogen fuel cell vehicles by 2025 in partnership with Toyota and by releasing the BMW i3 electric car in 2013. Notwithstanding difficulties, such as the COVID-19 pandemic's effects, BMW continues to be a representation of superior engineering and high-end auto design.
On October 5, 2023, BMW UK CEO Chris Brownridge is set to succeed Torsten Müller-Ötvös as the CEO of Rolls-Royce, as Müller-Ötvös retires, signaling a new chapter in the company's remarkable journey.
Products
1. Automobiles: A wide range of luxury vehicles, such as sedans, coupes, convertibles, SUVs, sports cars, and electric cars, are produced by BMW. The BMW 3 Series, 5 Series, 7 Series, X3, X5, X7, Z4, and the electric i3 and i8 are a few of their well-known automobile models.
2. Motorcycles: Sport bikes and adventure bikes are among the motorbikes that the firm manufactures and sells under the BMW Motorrad brand. In the motorcycle industry, popular models include the BMW S 1000 RR and BMW GS series.
3. Electric Vehicles: One step ahead in electric automobile competition.. Their electric vehicles, like as the BMW i3 and i4, help to lower carbon emissions and promote sustainable transportation.
4. Performance and M Models: BMW's M division creates high-performance variants of their standard models, known as M models. These vehicles offer enhanced power, handling, and unique styling..
5. Luxury and High-End Vehicles: BMW owns the Rolls-Royce brand, which produces some of the most luxurious and exclusive vehicles in the world. .Rolls-Royce models like the Phantom, Ghost, and Cullinan are coveted by discerning customers.
Services
1. Financial Services: BMW Financial Services provides a variety of leasing and finance options for BMW and Mini automobiles.. Customers may now purchase or rent a BMW more easily because of they are alluring financing deals, leasing choices, and insurance package.
2. BMW Connected Services: BMW offers connected services that enhance the driving experience. These services include real-time traffic information, remote vehicle control via a smartphone app, and over the air software updates for the latest features and improvements.
3. Service and Maintenance: BMW has a network of authorized service centers and dealerships worldwide. They provide routine maintenance, repairs, and genuine BMW parts to ensure the longevity and performance of BMW vehicles.
4. BMW Driver Training: BMW offers driver training programs to improve driving skills and promote safe and responsible driving. These programs often include performance driving experiences and off-road adventures.
5. BMW Lifestyle Products: BMW sells a variety of accessories and lifestyle goods, such as apparel, luggage, watches, and goods influenced by the aesthetic and principles of the brand.
6. Electric Vehicle Charging Services: For their electric vehicles, BMW provides access to charging results, including home charging stations and access to a network of public charging points.
7. Mobility Services: BMW also explores the concept of future mobility with services such as car-sharing programs and innovative transportation solutions.
EV Home Charger Models
Contact Information
Phone Number: +49 89 1250-16000
Email Address: kundenbetreuung@bmw.de
Headquarters: Petuelring 130, 80809 München, Germany
Official website: https://www.bmw.com/en/index.html
Certifications & Compliance
1. ISO Certifications: BMW adheres to ISO 9001 (Quality Management), ISO 14001 (Environmental Management), ISO 45001 (Occupational Health and Safety), and ISO 50001 (Energy Management) standards.
2. IATF 16949: BMW follows IATF 16949, a quality management system specifically for automotive manufacturing.
3. Legal Compliance: BMW complies with international and national regulations and standards related to safety, emissions, and product quality.
4. Product Safety: Rigorous safety testing, crash tests, and compliance with safety standards, such as NHTSA in the U.S. and Euro NCAP in Europe.
5. Data Privacy and Cybersecurity: BMW protects customer data and ensures cybersecurity, complying with regulations like GDPR.
6. Sustainability: BMW follows environmental regulations, practices responsible recycling, and manages resources sustainably.
7. Social Responsibility: Committed to fair labor practices and ethical sourcing of materials, following ILO standards.