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Bayerische Motoren Werke AG, commonly abbreviated to BMW, is a German multinational manufacturer of luxury vehicles and motorcycles headquartered in Munich, Bavaria, Germany. The company was founded in 1916 as a manufacturer of aircraft engines, which it produced from 1917 to 1918 and again from 1933 to 1945 creating engines for aircraft that were used in the Second World War. Automobiles are marketed under the brands BMW, Mini and Rolls-Royce, and motorcycles are marketed under the brand BMW Motorrad. In 2023, BMW was the world's ninth-largest producer of motor vehicles, with 2,555,341 vehicles produced and in 2022 the 7th largest by revenue. In 2023, the company was ranked 46th in the Forbes Global 2000. The company has significant motor-sport history, especially in touring cars, sports cars, and the Isle of Man TT. BMW is headquartered in Munich and produces motor vehicles in Germany, Brazil, China, India, Mexico, the Netherlands, South Africa, the United Kingdom, and the United States. The Quandt family is a long-term shareholder of the company, following investments by the brothers Herbert and Harald Quandt in 1959 that saved BMW from bankruptcy, with the remaining shares owned by the public.