This is an OEM replacement thermostat for the N55 engine in 2011-2017 F25 X3 35i and 2014-2018 F26 X4 35i/M40iX (N55 engine). Your engine's thermostat regulates coolant flow and temperature in the cooling system. When open it allows hot coolant to flow into the radiator to be cooled. When closed the coolant circulates through the engine, where it stays warm. A failed thermostat will either be open or closed with the engine running too cold (poor fuel economy and performance) or too hot (overheating). It can also impact your cabin heating/cooling since that system is drawn from your heater core. On the modern cars like above the car's electronics control the thermostat to regulate various temperature systems in the car.
This part is listed by BMW as BMW part number 11537586784 (11-53-7-586-784) and is described as OEM Thermostat for N55 Engine Coolant.
This is an OEM thermostat manufactured by Behr/Hella - an original supplier to BMW for this part, as well as many other components. As an OEM it meets all of BMW's original design, fitment, and performance requirements and is TUV approved. OEM parts are the best alternative to more expensive Original BMW parts because they are virtually identical without the inflated price tag. This part has a two year warranty.
BMW Fitments:
X3 Series
F25 X3 (2011-2017) > X3 xDrive35i
X4 Series
F26 X4 (2015-2018) > X4 35i xDrive
F26 X4 (2015-2018) > X4 M40i xDrive