BMW is a German multinational corporation which produces luxury vehicles and motorcycles. The company was founded in 1916 as a manufacturer of aircraft engines, which it produced from 1917 until 1918 and again from 1933 to 1945. In 2015, BMW was the world’s twelfth-largest producer of motor vehicles, with 2,279,503 vehicles produced. The company has significant motorsport history, especially in touring cars, Formula 1, sports cars and the Isle of Man TT. BMW is headquartered in Munich and produces motor vehicles in Germany, Brazil, China, India, South Africa, the United Kingdom, the United States and Mexico. The Quandt family is a long-term shareholder of the company (with the remaining shares owned by public float), following brothers Herbert and Harald Quandt’s investments in 1959 which saved the company from bankruptcy.
Bayerische Motoren Werke AG, commonly referred to as BMW, is a German multinational corporation which produces luxury vehicles and motorcycles. The company was founded in 1916 as a manufacturer of aircraft engines, which it produced from 1917 until 1918 and again from 1933 to 1945. In 2015, BMW was the world’s twelfth-largest producer of motor vehicles, with 2,279,503 vehicles produced. The company has significant motorsport history, especially in touring cars, Formula 1, sports cars and the Isle of Man TT. BMW is headquartered in Munich and produces motor vehicles in Germany, Brazil, China, India, South Africa, the United Kingdom, the United States and Mexico. The Quandt family is a long-term shareholder of the company (with the remaining shares owned by public float), following brothers Herbert and Harald Quandt’s investments in 1959 which saved the company from bankruptcy.
South Africa has been an important market for BMW since the 1970s. In 1995, the company established a local assembly plant in Rosslyn, Pretoria. This plant assembles vehicles from semi-knocked down (SKD) kits. Local assembly of BMW models started in 1968 with the BMW 1600, followed by the BMW 2000 in 1971.
BMW’s presence in South Africa has been seen as a way of circumventing trade barriers that were in place during apartheid. The South African market was one of the first to receive the new 3 Series when it was launched in May 2005.
The company has been praised for its commitment to South Africa, with then-President Thabo Mbeki quoted as saying ‘BMW’s investment is testimony to the attractiveness of our country as an investment destination and as a production platform for leading global companies.’
Since its establishment in South Africa, BMW has been active in supporting social and economic development in the country. In 2007, the company launched its BEE Empowerment Scheme, which aims to develop black economic empowerment in South Africa. Under the scheme, BMW South Africa has set aside 10% of its shares for black economic empowerment partners. The company has also established a joint venture with the Development Bank of Southern Africa to provide financing for black entrepreneurs.
In addition to its financial commitment to black economic empowerment, BMW South Africa has also been involved in a number of other initiatives to support social development in the country. These have included programs to support small businesses, women’s empowerment, and education.
The company’s commitment to South Africa was recognized in 2011 when it was awarded the Order of Mapungubwe (Silver) by the South African government. This is the highest honor that can be bestowed on a non-citizen by the South African government.
