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BMW AG is recalling at least 331,000 vehicles globally due to a defect in its starter motor, another setback for the German carmaker that’s been hit by costly product flaws.

The  iX3 SUV will be the first of 40 new or updated models. “We’re 109 years old, and it’s by far the biggest single investment into one architecture we’ve ever done,” CEO Oliver Zipse said.

Automakers in the U.S. and Europe raised concerns about China’s export controls on rare earth metals, as Beijing’s move threatens to disrupt global car production.

Models affected include locally made 3 Series and 5 Series vehicles, as well as several imported X Series SUVs.

Europe’s plan to effectively ban the sale of combustion engine cars from 2035 will lead to a “massive shrinking” of its automotive industry, according to BMW AG CEO Oliver Zipse.

Continental AG has lined up banks to help with the separation of its struggling car parts business, moving ahead with the plans despite recalls related to faulty braking systems it supplied.

BMW AG is recalling 270 vehicles in the U.S. to fix improper welding on braking systems supplied by Continental AG, adding to a more widespread issue with the component.

NEW YORK — BMW is lowering sales and earnings targets for the 2024 fiscal year, in a move the German carmaker said was partially triggered by hefty expenses of addressing a braking system recall.

BMW AG plans to start selling hydrogen-powered vehicles in four years in a bid to establish the technology as an alternative to battery-electric cars.

BMW AG remains bullish on battery-powered electric vehicles in the U.S., even though it’s expecting the sector’s market share gains to slow.