diff --git a/src/runtime/bake/production.rs b/src/runtime/bake/production.rs
index 81c32d95692..5422dfac319 100644
--- a/src/runtime/bake/production.rs
+++ b/src/runtime/bake/production.rs
@@ -1318,23 +1318,83 @@ unsafe extern "C" {
     ) -> *mut JSPromise;
 }
 
+/// Inverse of `resolve_disk_key`'s key spelling. Never a `\\?\` path: the module
+/// loader cuts specifiers at the first `?`, which is how this used to read `\\`.
 #[unsafe(no_mangle)]
 extern "C" fn BakeToWindowsPath(input: BunString) -> BunString {
-    #[cfg(unix)]
+    #[cfg(not(windows))]
     {
         let _ = input;
         panic!("This code should not be called on POSIX systems.");
     }
-    #[cfg(not(unix))]
+    #[cfg(windows)]
     {
         let input_utf8 = input.to_utf8();
-        let input_slice = input_utf8.slice();
-        let mut output = bun_paths::w_path_buffer_pool::get();
-        let output_slice = strings::to_w_path_normalize_auto_extend(&mut output[..], input_slice);
-        BunString::clone_utf16(output_slice.as_slice())
+        let mut path = key_path_to_disk_path(input_utf8.slice()).to_vec();
+        resolve_path::slashes_to_windows_in_place(&mut path);
+        BunString::clone_utf8(&path)
     }
 }
 
+/// `/C:/a/b.mjs` -> `C:/a/b.mjs`; anything else is returned as is.
+#[cfg(windows)]
+fn key_path_to_disk_path(key_path: &[u8]) -> &[u8] {
+    match key_path.strip_prefix(b"/") {
+        Some(rest) if strings::starts_with_windows_drive_letter(rest) => rest,
+        _ => key_path,
+    }
+}
+
+/// Drive or UNC path, as opposed to a bundle output path like `/_bun/abc123.js`.
+#[cfg(windows)]
+fn is_disk_path(path: &[u8]) -> bool {
+    resolve_path::windows_volume_name_len(path).0 > 0 && bun_paths::is_absolute(path)
+}
+
+/// A file outside the bundle is keyed by its disk path, spelled like a `file:`
+/// URL path: `bake:/C:/a/b.mjs`, `bake://server/share/b.mjs`. The loader resolves
+/// the returned key once more (referrer `bake:/`), so both spellings must come
+/// back out of here unchanged. `None` when neither side is a disk path.
+#[cfg(windows)]
+fn resolve_disk_key(
+    global: &JSGlobalObject,
+    referrer_key_path: &[u8],
+    specifier: &[u8],
+) -> Option<BunString> {
+    let referrer = key_path_to_disk_path(referrer_key_path);
+    let specifier = key_path_to_disk_path(specifier);
+    if !is_disk_path(referrer) && !is_disk_path(specifier) {
+        return None;
+    }
+
+    let dir = bun_paths::Dirname::dirname(referrer).unwrap_or(referrer);
+    let mut buf = bun_paths::path_buffer_pool::get();
+    let Some(resolved) = resolve_path::join_abs_string_buf_checked::<platform::Windows>(
+        dir,
+        &mut buf[..],
+        &[specifier],
+    ) else {
+        let _ = global.throw(format_args!(
+            "Cannot import {}: the resolved path is too long",
+            bun_core::fmt::quote(specifier),
+        ));
+        return Some(BunString::dead());
+    };
+    let resolved_len = resolved.len();
+    let resolved = &mut buf[..resolved_len];
+    resolve_path::slashes_to_posix_in_place(resolved);
+
+    let slash = if strings::starts_with_windows_drive_letter(resolved) {
+        "/"
+    } else {
+        ""
+    };
+    Some(BunString::create_format(format_args!(
+        "bake:{slash}{}",
+        BStr::new(resolved)
+    )))
+}
+
 #[unsafe(no_mangle)]
 extern "C" fn BakeProdResolve(
     global: &JSGlobalObject,
@@ -1363,10 +1423,15 @@ extern "C" fn BakeProdResolve(
     }
 
     debug_assert!(strings::has_prefix(referrer.slice(), b"bake:"));
+    let referrer_key_path = &referrer.slice()[5..];
+
+    #[cfg(windows)]
+    if let Some(key) = resolve_disk_key(global, referrer_key_path, specifier.slice()) {
+        return key;
+    }
 
     // dirname semantics: returns None for the root / no-parent.
-    let after_scheme = &referrer.slice()[5..];
-    let dir = bun_paths::Dirname::dirname(after_scheme).unwrap_or(after_scheme);
+    let dir = bun_paths::Dirname::dirname(referrer_key_path).unwrap_or(referrer_key_path);
 
     BunString::create_format(format_args!(
         "bake:{}",
diff --git a/test/bake/dev/production.test.ts b/test/bake/dev/production.test.ts
index 1335e3244c0..706eb52b9f1 100644
--- a/test/bake/dev/production.test.ts
+++ b/test/bake/dev/production.test.ts
@@ -594,4 +594,52 @@ export default function IndexPage() {
     // Verify NO JavaScript imports are included in the HTML
     expect(htmlContent).not.toContain('<script type="module"');
   });
+
+  test("a route can import a file outside the bundle while rendering", async () => {
+    // import() of a path the bundler never saw is keyed under "bake:" like the bundled
+    // modules, misses the module map, and is read from disk by the regular loader. On
+    // Windows the specifier is a drive path (import.meta.dir is inlined as one), which
+    // used to be joined onto the referrer's bundle path as if it were relative, and the
+    // build failed with `EINVAL reading "\\"`.
+    const dir = await tempDirWithBakeDeps("bake-production-disk-import", {
+      "src/index.tsx": `export default { app: { framework: "react" } };`,
+      "extra/banner.mjs": `import { detail } from "../shared/detail.mjs";
+
+export const banner = "read from disk while rendering";
+export { detail };`,
+      "shared/detail.mjs": `export const detail = "resolved relative to the file on disk";`,
+      "pages/index.tsx": `import { join } from "node:path";
+
+export default async function IndexPage() {
+  // Computed specifiers, so the bundler leaves these import()s to the runtime.
+  // The first is a normalized native path; the second still has the ".." in it
+  // and, on Windows, mixes separators. Both must name the same module.
+  const joined = await import(join(import.meta.dir, "..", "extra", "banner.mjs"));
+  const unnormalized = await import([import.meta.dir, "..", "extra", "banner.mjs"].join("/"));
+  return (
+    <ul>
+      <li>{joined.banner}</li>
+      <li>{joined.detail}</li>
+      <li>{joined === unnormalized ? "one module instance" : "two module instances"}</li>
+    </ul>
+  );
+}`,
+    });
+
+    await using proc = Bun.spawn({
+      cmd: [bunExe(), "build", "--app", "./src/index.tsx"],
+      cwd: dir,
+      env: bunEnv,
+      stdout: "ignore",
+      stderr: "pipe",
+    });
+    const [stderr, exitCode] = await Promise.all([proc.stderr.text(), proc.exited]);
+    expect(stderr).not.toContain("error:");
+    expect(exitCode).toBe(0);
+
+    const html = await Bun.file(path.join(dir, "dist", "index.html")).text();
+    expect(html).toContain("<li>read from disk while rendering</li>");
+    expect(html).toContain("<li>resolved relative to the file on disk</li>");
+    expect(html).toContain("<li>one module instance</li>");
+  });
 });