Yeap, I would remove the other nut connected to the Tie rod (metal) arm, remove the half clamp, swing the link and sensor arm upwards. Once you do this, the link should be vertical, then re-attach the half clamp, and you are good to go.

PS. Spray WD40 on it and let it soak for 2+ minutes before removing nut.

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2003 M3 Schwarz
2011 X5 35i