Originally developed as the Stridsvagn L-60 in 1934, the tank went through a number of variants, the L-60A to L-60D before it evolved into the L-60 S for the Swedish Army. The L-60 S/V was known as the Stridsvagn M/40K. The M/40K mounted a Bofors 37mm gun and a 7.92mm Madsen machine gun with a crew of 3. Eighty M/40K were ordered in 1942 and delivered in 1944. The L-60 was also built under license in Hungary as the Toldi.