BMW in its full form stands as “Bayerische Motoren Werke”, the renowned automobile manufacturing company based in Munich, Germany.
BMW Full Form:
The BMW Group is the world’s leading premium segment manufacturer of automobiles and motorcycles, and provider of premium financial and mobility services. It has established 31 production and assembly facilities in 15 countries and a global sales network in more than 140 countries.. Chairman of the Board of Management of BMW AG is HARALD KRÜGER.
- Karl Rapp, the head of the engine maker Rapp Motorenwerke and Gustav Otto, head of aircraft manufacturer Flugmaschinenfabrik, is known for the origin of Bayerische Motoren Werke GmbH, in 1916.
- From 1917, BMW’s world’s famous logo, which incorporates the Bavarian state colors, was being displayed in each product of the company.
- After the end of First World War, the production of the aero-engines was ceased, thereby initiating the manufacturing of railway brakes and inboard engines.
- In 1923, BMW debuted in manufacturing the range of complete vehicles, the first BMW Mottorad- the R 32.
- In 1928, BMW became an automobile manufacturer by acquiring the Eisenach vehicle plant.
- After the Second World War, the US military government ordered the BMW plants in some locations to be dismantled. This loss of control over its assets lasted till 1948.
- In 1948, the R 24 motorcycle, an enhanced version of R23 version, was introduced which attracted the sales beyond expectations.
- The BMW 501- the first post-war automobile built from 1952 onwards was a luxury car with a seating capacity of up to six people.
- BMW 1500 model, a compact, sporty four-door middle-class sedan, in 1961, re-established BWM as a successful, modern carmaker.
- In1971, BMW Kredit GmbH was set up as a finance and leasing business subsidiary of BMW to provide finance for the company’s transactions as well as for the dealerships.
- In 1972, BMW formed a wholly-owned subsidiary-BMW Motorsport GmbH to handle all of its various motor racing activities, especially sporty BMW vehicles.
- BMW Welt and BMW museum, located near the main BMW factory, the company’s headquarters in the legendary BMW Tower, has been built to showcase the stories of history for the visitors
- In 1994, it decided to purchase the Rover Group in the UK. However, only the brand MINI remains with BMW today. The new MINI was launched by the BMW Group in 2001 as the first premium vehicle in the small car segment.
- In 1998, BMW acquired the Rolls-Royce Motor cars.
- In 1999, a new vehicle concept was unveiled with the birth of the sports activity vehicle-the BMW X5.
- The BMW i3 is the first series-produced electric car in 2013, followed by i8 in 2014.
A few of the same are:
- The BMW Turbo, in 1972- the first car to incorporate ground-breaking vehicle-safety innovations with features like ABS, renewable crumple zones, radar distance sensors.
- The BMW 7 Series- developed with more than double the number of lines of software code (approx. 100 million) used in Windows 7, which has approx. 40 million lines.
- BMW X4- demonstrates the connection of car with smartphones, smartwatches or Amazon’s Alexa voice assistant via BMW Connected and the flexible Open Mobility Cloud platform.
Present figures of the Bayerische Motoren Werke(full form of BMW) as of 2018
- Number of employees- 134682
- Automobiles delivered to customers ( BMW+MINI+Rolls Royce)-2490664
- Electrified vehicles delivered- 142617
- Motorcycles delivered- 165566
- Revenue – 97.48 billion euros
The Strategy Number One adopted by BMW has been built around the four pillars- “Growth”, “Shaping the Future”, ”Profitability” and “Access to technology and customers”. The company targets to be profitable and to enhance long term value in times of change along with its mission to become the world’s leading provider of premium products and services for individual mobility.
Known for consistent innovativeness, BMW marked its step towards-
- Mobility services- ParkMobile (digital parking solution via app), BMW CarData
- (accessing customer data for Value added services).
- Project BMW Vision E^3 Way- “electric”, “elevated”, and “efficient”
- BMW Vision iNEXT- Lightweight design, electric drive train, autonomous driving, and digital connectivity.
- 25 electrified models by 2025, etc.