Bayerische Motoren Werke AG (English: Bavarian Motor Works; BMW) is a German luxury automobile, motorcycle and engine manufacturing company founded in 1916. BMW is headquartered in Munich, Bavaria, Germany. It also owns and produces Mini cars, and is the parent company of Rolls-Royce Motor Cars. BMW produces motorcycles under BMW Motorrad, and plug-in electric cars under the BMW i sub-brand. BMW is one of the best-selling luxury automakers in the world. The company is a component of the Euro Stoxx 50 stock market index.