The Bf 162 was designed in response to a 1935RLM (Reichsluftfahrtministerium - "Reich Aviation Ministry") specification for a schnellbomber ("fast bomber") for tactical use. Messerschmitt's design was a modified Bf 110 with a glazed nose to accommodate a bombardier. In 1937, three prototypes were flown against designs by rival manufacturers, the Junkers Ju 88 and the Henschel Hs 127, both of which were entirely new designs. Eventually, it was the Ju 88 that was selected for production, and development of the Bf 162 ended at that point. As a disinformation tactic, images of the Bf 162 were widely circulated in the German press captioned as the "Messerschmitt Jaguar", a name never used outside this context. This aircraft's number of 162 was later re-used for the Heinkel He 162 jet fighter.
The aircraft was also the last Messerschmitt aircraft officially designated with the firm's old "Bf" prefix (for Bayerische Flugzeugwerke - "Bavarian aircraft works"). All subsequent types would be prefixed "Me".
Messerschmitt is a famous German aircraft manufacturer, known primarily for their World War II fighter aircraft, notably the Bf 109 and Me 262.
Messerschmitt AG was incorporated as a separate company on July 11, 1938, with Willy Messerschmitt as chairman and managing director.
Messerschmitt had its share of poor designs as well; the Me 210, designed as a follow-on to the 110, was a disaster that almost led to the forced dissolution of the company.
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