BMW Motorrad is a business unit of the vehicle and engine manufacturer BMW. The company was founded on March 7, 1916 as Bayerische Flugzeugwerke (BFW) in Munich and originally focused on the production of aircraft engines. On July 21, 1917, the company was then renamed Bayerische Motoren Werke GmbH, and in 1918 the name was changed to Bayerische Motoren Werke AG. Since 1923, the company has also manufactured motorcycles, and in 1928, automobile production was added. Today, BMW is the only large-series manufacturer of high-displacement motorcycles in Germany and one of the top-selling manufacturers in Europe.