In June 2021, BMW formally announced it would enter IMSA's GTP class in 2023 under LMDh regulations. Three months later, Dallara was confirmed as the chassis partner, making BMW the first LMDh manufacturer to select Dallara. A partnership with Rahal Letterman Lanigan Racing to campaign the cars in IMSA was announced in November 2021, continuing a relationship that began with the BMW M3 GT2 in 2009.
The car's engine is a twin-turbocharged V8 developed from the unit found in the BMW M4 DTM during 2017 and 2018, paired with standardised hybrid components supplied by Williams Advanced Engineering, Bosch, and Xtrac. In August 2022, BMW announced the car would also compete in the FIA World Endurance Championship, operated by Team WRT. The M Hybrid V8 completed its first shakedown at Varano de Melegari in July 2022, followed by testing at Circuit de Barcelona-Catalunya, Watkins Glen, Road Atlanta, and Sebring.
The M Hybrid V8 made its global racing debut at the 2023 24 Hours of Daytona with Rahal Letterman Lanigan Racing. Both cars suffered technical problems related to the hybrid system, brakes, and electrics, though the number 24 car managed a top-six finish. At the 2023 12 Hours of Sebring, Connor De Phillippi, Sheldon van der Linde, and Nick Yelloly in the number 25 car recovered from a late brake change to finish second overall after a last-lap incident eliminated rival Acura and Porsche machinery.
Further podiums followed at the 2023 Grand Prix of Long Beach, where De Phillippi finished second overall. At the Sahlen's Six Hours of The Glen, the number 25 BMW led late in the race before being passed in the final minutes by the number 6 Porsche. However, following a post-race penalty against the Porsche for illegal skid block wear, the BMW inherited its maiden victory — BMW's first sports prototype win since the 2000 American Le Mans Series at Silverstone. Two additional podiums followed at the Chevrolet Grand Prix and the IMSA Battle on the Bricks.
BMW officially joined the FIA World Endurance Championship in 2024 with Team WRT. The lineups were Raffaele Marciello, Dries Vanthoor, and Marco Wittmann in the number 15 car, and Robin Frijns, Rene Rast, and Sheldon van der Linde in the number 20 car. BMW returned to the 24 Hours of Le Mans for the first time in 25 years in the top class, where they had previously won with the V12 LMR in 1999. The number 20 car was designated as the 20th BMW Art Car, featuring a painting by Ethiopian-American artist Julie Mehretu. Neither WEC car finished Le Mans, but the team claimed its first WEC podium at the 2024 6 Hours of Fuji with the number 15 crew finishing second.
In IMSA, Jesse Krohn replaced Augusto Farfus in the number 24 car. The season culminated in a 1-2 finish at the 2024 IMSA Battle on the Bricks at Indianapolis, the M Hybrid's second victory across both series.
Kevin Magnussen returned to sports car racing with BMW for 2025, competing primarily in the FIA WEC replacing Wittmann, while also participating in IMSA Endurance Cup rounds. Dries Vanthoor was promoted to a full-time Hypercar seat in IMSA. The M Hybrid V8 scored four consecutive pole positions between the 2025 24 Hours of Daytona and the fourth round at Laguna Seca, all with Vanthoor. The number 20 WEC car equalled its best series finish of second at the 2025 6 Hours of Imola.
In July 2025, BMW announced the split from Rahal Letterman Lanigan Racing at the end of the year, and revealed an updated M Hybrid V8 for 2026 featuring revised front styling and improved aerodynamics.
In its first season with a new IMSA partner, BMW committed to an alternate strategy at the 2026 6 Hours of Spa-Francorchamps and secured a 1-2 finish, delivering the manufacturer's first victory in the FIA World Endurance Championship.
The BMW M Hybrid V8 represents BMW M's re-entry into the top tier of endurance sports car racing after a 24-year absence from the prototype class. The car's early victories in IMSA and its Art Car Le Mans entry highlighted the programme's ambitions across both major sportscar series. The car has evolved rapidly through its competition years, and its 2026 first WEC win marked a significant milestone in BMW's return to endurance motorsport at the highest level.