Alright, you got this far. Now we have to turn the component and unscrew the 4 Torx screws.

I used a T3 screwdriver for this

Loosen the axel from the underside of the blender cup.

You will see a rubber part which tightly fits into the underside of the blender cup. This rubber is encapsulating the ball bearing (which probably is jammed).

Take the rubber of the bearing. It looks like a car-wheel tire!

Mine looked like on the foto, completely wrecked because of rubber degradation. Fractions of the rubber made the bearing jam, which made the tightly fitted rubber "tire" rotate in its fitting, producing the burning rubber smell.