“As Rapp grew into BMW, BMW assumed all the business segments, and the company wanted the logo to be oriented on Rapp’s logo. As you can see here on this example, Rapp has a black horse as a symbol on its logo. BMW chose the Bavarian national colours as a symbol, but arranged the letters exactly like Rapp. So you can see very clearly how the BMW logo was developed.”
— KAI JACOBSEN, AUTOMOBILE HISTORIAN, BMW GROUP

Via: logodesignlove.com