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As I mentioned in the follow-up on the EMW, the original BMW factory was "trapped" in the Russian sector, so the BMW management wisely decided to relocate to West Germany. However, they did not get up and running until 1952.
In the interim--in 1947-- some former BMW engineers started the Veritas Motor Company in West Germany, building what was essentially a '39 Beemer with a new, more modern body. However, they badly misjudged the market in post-war Germany, where most folks were only able to raise the money for a very inexpensive car--if they had the money for a car at all.
In 1950, the Veritas company entered into a partnership with Panhard & Levassor, and they began building the smaller, cheaper Dyna-Veritas, with the 2-cylinder engine of the Panhard Dyna.
Once BMW got back on its feet, they absorbed Veritas, and that make ceased to exist.
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