Thanks for the tip. Just bought a salvage 2007 Z4 that had air bags go off. Could only start it by jumping off the front (engine compartment) posts. The problem you described is exactly my situation. It looks like there is a small actuator that separates the positive battery cable. I just took mine apart to comfirm, and sure enough, this was the problem.
Thanks for your post. you saved me potential hours of wasted time looking for the problem.
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