After the original Rolls-Royce Ltd. went bust the British government bought up all it's assets and set up a new company in 1971. The automobile division was spun off as a separate company and sold off a few years later.

The engine company is Rolls-Royce Holdings Plc and ain't a subsidiary of anyone. It's the second largest manufacturer of aircraft engines after CFM.

BMW owns the modern car company and licenses the name and logo from the engine company.