Postwar, BMW production resumed but with the Eisenach factory now lying in Eastern Germany that part of the business produced cars under the 'EMW' label and later as 'Wartburg' after an Austin Seven-based sports car. It took 5 years for BMW (west Germany) to restart production after the War, and then only with the rather staid 501 series car that was never going to be a good exporter. American importer Max Hoffman persuaded BMW to produce a car for the American market to rival the 300SL from Mercedes-Benz. The starting point for this new car was a shortened chassis from the BMW 503 sportscar, and the engine was a development of the alloy 2580cc V8 first given to the BMW 502 in 1954. BMW engineer Fritz Fiedler had to design the 507 using as many existing components as was possible, but Hoffman engaged Al Goertz to design the bodies of both the 503 and 507. The V8 engine was uprated to 3168cc and given twin carbs for a 150bhp output. Launched at the New York Waldorf-Astoria in 1955, it was more than a year before production started. Intended to sell for about $5000, the 507 was expensive to produce with its aluminium body almost hand built, and even at a price $10500 could not make a profit for BMW. Production ended in 1959 after only 252 were made.