With German rearmament in the 30s, the company again began producing airplane engines for the Luftwaffe. Amongst its engine designs that are successful World War II was the BMW 003 flow turbojet, which powered the 1945 era jet and BMW 801 air and the BMW 132 the Heinkel, emergency fighter. The BMW 003 jet engine has been tested in the A1b edition of the world's very first jet fighter, the Messerschmitt Me 262, but BMW motors failed on takeoff, a major drawback for the Emergency Fighter Program until effective testing with Junkers engines. At its end of its Third Reich BMW developed some military airplane projects because of its Luftwaffe, its BMW Strahl Bomber, its BMW Schnellbomber and its BMW Straaljager, but none of them were built.
By its year 1959, its automotive division of BMW has been in financial problems along with a shareholders meeting was held to make a decision whether to go into liquidation or discover a way of carrying on. It had been decided to carry on and also to try to cash in on its current economics automobile boom enjoyed so successfully by some of Germany's ex airplane manufacturers like Messerschmitt and Heinkel. The rights to produce the Italian Iso Isetta were purchased, the tiny vehicles themselves were to be driven by a modified form of its BMW motorcycle engine.
This was moderately effective and helped the business get back on its feet. The commanding majority shareholder of its BMW Aktiengesellschaft since 1959 is its Quandt family that owns about 46% of the stock. The remainder is in public float. BMW obtained the Hans Glas business based in Dingolfing, Germany, in 1966. Glas vehicles were temporarily badged as BMW till the company was fully absorbed. In 1992, BMW acquired a large stake at California predicated industrial design studio Designworks United States, which they fully acquired in 1995. The MG along with Rover brands were sold to its Phoenix Consortium to form MG Rover while Land Rover has been taken over by Ford. BMW, meanwhile, retained its rights to build its new Mini, that was launched in the year 2001. Chief designer Chris Bangle announced his departure by BMW in Feb 2009, having served on the design team for almost seventeen years.