It took BMW AG more than two years to discover the extent of a braking system fault that is expected to cost the carmaker nearly €1 billion ($1.1 billion) to fix.

According to media reports, BMW took more than two years to discover the full extent of the fault in its car's braking system. Reports mention that the first faulty brake complaints came in June 2022.

In a significant setback for the luxury automaker, BMW AG has announced a massive recall affecting 1.5 million vehicles worldwide due to a faulty braking system. The recall, which is expected to cost the company nearly €1 billion ($1.

The affected vehicles were produced between June 2022 and August 2024, per BMW, and several models are covered.

BMW now has to issue a profit warning due to problems with electric brakes that have persisted since March. Over one and a half million cars are affected.

The company's shares plummeted last week on its profit warning as it revealed the scale of the problem, with €5bn at one stage being wiped off their value. View on euronews