Since U.S. and European 1-series are built on the same assembly line, I'd venture to say that it's just a parts mixup at the factory. If the indicator light doesn't light up when the switch is pressed, it's likely that the car doesn't know the switch is there. I would be curious to know if you could code this option in the VO and then see if the switch does anything! I suppose it's possible that the car is equipped with start/stop but since it's not offered in the U.S. then no U.S. VO would have it by default.
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