BMW (Bayerische Motoren Werke, or Bavarian Motor Works in English) is a Germany-based company which currently produces automobiles and motorcycles, and produced aircraft engines until 1945. The company was founded in 1916 and has its headquarters in Munich, Bavaria. BMW produces motor vehicles in Germany, Brazil, China, India, South Africa and the United States. In 2015, BMW was the world’s twelfth largest producer of motor vehicles, with 2,279,503 vehicles produced. The Quandt family are long-term shareholders of the company, with the remaining stocks owned by public float.