I saw this when I first joined LFS shortly after Patch X was released. It was when the demo version dropped the XRT and added the FBM although the video was posted by another channel. Here's the original post though.
http://www.lfs.net/?page=oldernews
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added Sun, Dec 2nd, 2007 16:30
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Soon available : Formula BMW FB02
 
 
Hello Racers!
 We are pleased to announce that there will be a new patch before  Christmas. This patch will contain AI and physics improvements, updated  Blackwood and South City tracks and... a new real car - The Formula BMW  FB02!
 The story behind the new car is that there is a new UK based company  called V1 Championship whose aim is to discover a new racing driver  through a series of tests resulting in a place in a team for the winning  driver.  V1 will be launched in 2008 and shown on TV in the UK.  Live  for Speed will be used as part of the selection process, before testing  in real cars.  V1 asked us to create a Formula BMW to make this test as  realistic as possible.  BMW Motorsport gave us permission to build the  car in LFS, so we went ahead and built it.
 
 
The V1 car is owned by Fortec Motorsport where V1 is based.  Thanks to  V1 and Fortec, our programmer Scawen Roberts was able to get a test day  driving the Formula BMW and that helped a lot with the realism of the  LFS version of the car.
 We can't give an exact date for the release yet but it will be before  Christmas.  Right now you can watch a video of Scawen's test day and  footage of the car in LFS.  Thanks to DoN for making the video. Click  one of the links below to download or stream it.  If the download  doesn't play on your computer, just visit 
www.divx.com and install the free DivX player.
   Movie download  : 
Formula BMW video LO-RES (30 MB)  
Movie download  : 
Formula BMW video HI-RES (69 MB) 
 YouTube  : 
Watch Now   
We hope you enjoy the video and we look forward to releasing the patch, which is currently being thoroughly tested!
 LFS Team
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