At first pass, it looks like the bevels have been removed and the typeface updated but turns out BMW have dropped the colour black completely from the logo and it's no transparent.
Interesting choice and it might just work.
The biggest change is the loss of the black background, which I feel is what made the BMW so iconic and elegant, adding a rich contrast to the white and blue. Without the black and the concept of transparency for the new logo, it literally looks like something is missing. The non-transparent version that appears on white, with the strokes in half of the quadrants looks, sadly, terrible and demonstrates the kind of struggles this new approach will yield. I think abandoning black was not the best choice — on their website, which is the sole corporate application available, the new logo gets lost.
When it's as small as it is on the website, it definitely works better on a darker background. The non-transparent version (for white backgrounds?) is a little odd, with two additional strokes required to contain the white propellors.
Still recognisably BMW, it looks great on the i4 concept bonnet – not that I even noticed the change while watching the video.
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