3
modified form of BMW's own motorcycle engine. This was moderately successful and helped the company get back on its feet. The controlling majority shareholder of the BMW Aktiengesellschaft since 1959 is the Quandt family, which owns about 46% of the stock. The rest is in public float.
In 1992, BMW acquired a large stake in California based industrial design studio DesignworksUSA, which they fully acquired in 1995. In 1994, BMW bought the British Rover Group (which at the time consisted of the Rover, Land Rover and MG brands as well as the rights to defunct brands including Austin and Morris), and owned it for six years. By 2000, Rover was making huge losses and BMW decided to sell the combine. The MG and Rover brands were sold to the Phoenix Consortium to form MG Rover, while Land Rover was taken over by Ford. BMW, meanwhile, retained the rights to build the new MINI, which was launched in 2001.
Chief designer Chris Bangle announced his departure from BMW in February 2009, after serving on the design team for nearly seventeen years. He was replaced by Adrian van Hooydonk, Bangle's former right hand man. Bangle was famously (or infamously) known for his radical designs such as the 2002 7-Series and the 2002 Z4. In July 2007, the production rights for Husqvarna Motorcycles was purchased by BMW for a reported 93 million euros. BMW Motorrad plans to continue operating Husqvarna Motorcycles as a separate enterprise. All development, sales and production activities, as well as the current workforce, have
remained in place at its present location at Varese.
Nazi connections
Günther Quandt, whose family became major shareholders of BMW 15 years after the war, was a member of the Nazi Party from 1933. After the election of Hitler, he was appointed to the position of Leader of the Armament Economy, which was a title given to industrialists who played a leading role in the Nazi war economy. Quandt's factories supplied ammunition, rifles, artillery and batteries for the Nazis and, it is claimed, used slave labourers from concentration camps in some of his factories.
A documentary aired on German TV in 2007 claimed that Quandt not only used slave labour, but also sidestepped postwar recrimination. BMW itself was not