FWIW here's my take on it. This design is (obviously) based on 'our' most distinctive image, the A series timing cover.
This is THE ONE visual image that makes us distinctive. (Note that I resisted the temptation to place a black oval beneath the image).
I've transmogrified* the 'piled arms' motif so that it now resembles a road disappearing into the distance, relevant of course - and It also adds a nice visual 'dynamic'.
This is intended to be a LOGO. Specifically designed to be highly functional for all media and all sizes, It would work for everything from a patch or small key-fob, to a tee shirt or poster.
Like any good logo, it can also be used as a smaller part of a larger design. For example we might want to have a tee-shirt with the cutaway engine illustration, but we'd include the logo as a smaller 'key' image that identifies us.
I've used the red white and blue colours that are the trad Brit colours, -relevant for our Brit machines, but there are many other colour schemes that could work. (A simple black and white version is included).
(*Blimey, I've finally found somewhere I can use that word!)
-Jools