German carmaker BMW on Friday introduced the Rolls Royce "Phantom," it's first vehicle produced under the British brand since it was bought by BMW. The model, shown at BMW's new purpose-built Goodwood factory in Britain, runs on a 6.75 liter motor and can reach speeds of 240 kilometers per hour. The Phantom can accelerate from 0 to 100 kilometers per hour in just six seconds. According to reports, BMW plans to produce 1,000 Phantoms each year with a price tag of 250,000 British pounds ($401,987). BMW took over production from its rival, Volkswagen, in August.