In 1949, the procurement division of the Swedish army placed an order for the development of a light assault self-propelled gun to substitute the Sav m/43 SPG. Three companies took on the work: AB Landsverk took on the development of the platform, Volvo was responsible for the powertrain, and Bofors for the armament. In fact, three versions of the vehicle for different purposes were planned at first: one with a 75 mm cannon, a machine-gun-equipped modification, and also a special one that was intended for the deployment of specific weaponry, such as flamethrowers and rocket launchers. Thus, a light (merely eight tonnes in all), tracked infantry-support vehicle was produced, with an open cabin and bulletproof armour.

In 1952, a cannon-equipped version, under the designation the Ikv 72 (short for “infanterikanonvagn”, meaning “cannon-equipped infantry-support vehicle” in Swedish), was put into service. A little later, the SPG’s were re-equipped with 105 mm howitzers and the cabin was retrofitted with a roof, which could protect the crew from bullets and shrapnel. This modification received the designation Ikv 102. Meanwhile, the Swedish army ordered another series of the vehicle with an upgraded chassis to allow installation of a new air-cooled engine, while the gun and the armour remained the same as the Ikv 102’s. This new version was designated Ikv 103. The Ikv 102 and 103 SPGs remained in use by the Swedish army until the mid-1970s, when they were replaced with the Ikv 91 SPG.