It was a design excercise. It was developed by BMW techs and used as a go-fer car. It's not just a cut-n-paste either. It can actually haul a decent payload.
If you look in the background you can see where it currently resides. The museum at the base of the "4-banger building."
Actually guys, I think it looks kinda neat. Granted it's not in the true spirit of a BMW to take an M3 chassis and do that, but it doesn't look like a total waste either. It makes sense as a parts "truck" if that's what they used it for.
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