In the early 1950s, the Centurion medium tank entered service in the Swedish army, yet a lighter and more maneuverable vehicle was required. It was decided to modernize the old Strv m/42 vehicles by equipping them with a new turret and armament. The tank received a new name, Strv 74. A total of 225 vehicles were manufactured from 1957 through 1960. The Swedish army continued to use the vehicle until the end of 1984.