BBS Kraftfahrzeugtechnik AG began in 1970 in Schiltach, Germany, by Heinrich Baumgartner and Klaus Brand as a manufacturing plant for plastic auto body parts. The initials BBS are based on the last names of the two founders and the city in which the company was founded (Baumgartner, Brand, Schiltach).

In May 1987, BBS had its initial public offering, and continues to be traded on the Frankfurt Stock Exchange. In 2007, BBS went bankrupt and was taken over by the Belgian firm Punch International. As of 1 July 2015, South Korean firm Nice Corp became the majority owner. In 2020, BBS automotive GmbH filed for insolvency, but was acquired by KW automotive GmbH in March 2021, a multinational automotive suspension parts company.

BBS has a long history in the world of motorsport, having produced wheels for Formula One, the 24 Hours of Le Mans, IndyCar, DTM, NASCAR, and other racing series from as early as 1972. The company pioneered technologies in the production of racing wheels and making wheels lighter and stronger for race usage. In 2012, BBS Motorsport & Engineering GmbH became an independent division under the Japanese Ono Group.