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Hmm. interesting.
if it were me I would take off the cover on the bottom of the car, try to follow the “substance” up.
def. not something you hit driving or else it would be sprayed all the way down the chassis.
my guess, some sort of sealant for a screw/nut/joint to prevent it from coming loose and/or squeaking. Likely done by a machine...maybe it shorted out and SPLOOGED all over that area while the car was being built.
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14 335i
12 335i 6 speed
11 328i
06 330i
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