BMW was founded in 1916 as Bayerische Flugzeugwerke to produce aircraft engines. In 1917 it was renamed Bayerische Motoren Werke GmbH. After World War 2, BMW transitioned to motorcycle production and later expanded into automobile production. Today, BMW produces cars, motorcycles and bicycles under the BMW, Mini and Rolls-Royce brands worldwide, with major production facilities in Germany, the US, South Africa, India and China. BMW has grown to become one of the largest and most valuable automotive brands globally.