Bayerische Motoren Werke AG usually known under its abbreviation BMW, are German luxury vehicles, motorcycle, and engine manufacturing company founded in 1916. Headquartered in Munich, Bavaria, Germany, it also owns and produces Mini cars and serves as the parent company of Rolls-Royce Motor Cars. BMW produces motorcycles under BMW Motorrad, and plug-in electric cars under the BMW sub-brand and the "iPerformance" model designation within the regular BMW lineup. It is one of the best-selling luxury automakers in the world. The company is a component of the Euro Stoxx 50 stock market index.