The contact owns a 2006 BMW 530i. The contact stated while driving at approximately 65 MPH, the contact observed an unspecified "yellow" warning light on the dash and heard a small explosion sound issue from the engine compartment. The contact stated that smoke began to come out from under the hood. The contact turned the vehicle off and set the transmission to "neutral" coasted off the roadway onto the left shoulder and stopped. The vehicle was on fire in the engine compartment. The contact extinguished the flames with a fire extinguisher. The contact had the vehicle towed to his residence. The contact had not taken the vehicle to a dealer or an independent mechanic. The contact received a recall letter and related the failure to NHTSA Campaign Number: 22V119000 (Engine and Engine Cooling). The vehicle was not repaired. The manufacturer had not been informed of the failure. The failure mileage was approximately 150,000.