'Bayerische Motoren Werke', was born from 'Bayerische Flugzeugwerke' (BFW), late in WW1. They manufactured aircraft and engines for the german military. BFW, in turn, was born of Rapp motorcycles before WW1
The logo is based on either a revolving aircraft propeller, or the blue and white chequered barvarian flag, or maybe both.