The 38M Toldi was produced and developed under license from Swedish company AB Landsverk between 1939 and 1942. Only 202 were produced. This was a development of the Strv L-60. 

Toldi tanks entered Hungarian service in 1940. They first saw action with the Hungarian Army against Yugoslavia in 1941.

These tanks were mostly used against the USSR between 1941-1944. Because of their light armour, armament and good communications equipment, they were mostly used for reconnaissance. The design was no match against Soviet T-34 medium tanks encountered during the early stages of Operation Barbarossa.

Toldi I (k.hk. A20) - first variant armed with 20 mm gun, 80 made.