query: When was BMW founded?
passage: BMW
The company was founded in 1916 and has its headquarters in Munich, Bavaria. BMW produces motor vehicles in Germany, Brazil, China, India, South Africa, the United Kingdom, and the United States. In 2015, BMW was the world's twelfth largest producer of motor vehicles, with 2,279,503 vehicles produced.[2] The Quandt family are long-term shareholders of the company, with the remaining shares owned by public float.
passage: BMW in motorsport
In 1997, BMW announced that it had formed a partnership with Williams Grand Prix Engineering in order to provide V10 engines in 2000. The initial development of this partnership was BMW's sports car effort. Chassis built by Williams powered by a BMW M70 V12 engines were netered by long-time partner team Schnitzer Motorsport. The rather unsuccessful 1998 model was improved, and the efforts culminated in BMW's victory at the 1999 24 Hours of Le Mans with the BMW V12 LMR. Additional success came in the 2000 ALMS series before the cars were retired from racing.