The Berlinale has traded its VW for a Beemer.

BMW will be the Berlin Film Festival’s new main sponsor for its 60th anniversary next year, fest organizers announced Monday.

BMW “fits well with the festival’s objectives,” said fest topper Dieter Kosslick, who described the Bavarian carmaker as “a strong partner for the Berlinale.”

The partnership will include the BMW Golden Bear Lounge at Potsdamer Platz, which will be a key meeting place for VIP guests and journalists.

“BMW has a long tradition in the film industry,” said BMW’s head of sales Karsten Engel. “Our engagement in the capital is not only an expression of our close ties to Berlin, but also to Germany as a location of the film industry.”

Volkswagen decided not to renew its seven-year partnership with the film festival in April after a dramatic decline in first-quarter profit. The Berlinale was left with an estimated €1.5 million ($2.2 million) hole in the $22.6 million budget for the event, which will run Feb. 11-21.

About a third of the fest’s funding comes from the federal government, a third from merchandising and ticket sales, and a third from sponsorship, which includes its other main partners, pubcaster ZDF and French cosmetics giant L’Oreal.