New York (CNN Business) BMW's round logo is receiving its first redesign in more than two decades.

The German automaker's refreshed logo ditches the black ring for a transparent circle. The rest of it, including the typeface, has a flatter and more modern look. The blue and white emblem inside the ring remains.

that the new look also symbolizes BMW's "significance and relevance for mobility and driving pleasure in the future." The new logo, which will be used in BMW's communications efforts, including its social media platforms and website, is meant to "radiate more openness and clarity," Jans Thiemer, BMW's senior vice president of customer and brand, said in a statement on the company's website . He addedthat the new look also symbolizes BMW's "significance and relevance for mobility and driving pleasure in the future."

BMW's new logo made its debut on the Concept i4 vehicle.

Tesla TSLA A spokesperson said there are "no plans" for the new logo to appear on production vehicles, although BMW emblazoned it on the hood of its Concept i4 vehicle, a electric car aimed atthat made its debut Tuesday. The company said that the transparent design gives the car's exterior color "even greater prominence."

BMW's previous logo made its debut in 1997. The company has had six logos in its 103-year-old history, all of them largely similar.

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