What is the history of BMW?
1 Answers
BMW was founded on March 7, 1916. Entering the four-wheel product field: In 1927, the Eisenach factory located in Thuringia, Germany, obtained authorization from the British Austin Motor Company to manufacture the German version of its famous Austin 7 model, sold under the Dixi brand. The following year, BMW acquired the factory for 16 million marks, thereby gaining the production rights for the Dixi 3/15 PS model, which became the company's first automobile product. Post-war to present: On October 11, 2018, BMW Group increased its investment to acquire an additional 25% stake in the joint venture Brilliance China Automotive, raising its ownership from the current 50% to 75%. Additionally, the joint venture's contract duration was extended from the original 2028 to 2040.