In the middle of the '80s Hugglunds started the development of a new family of Combat Vehicles called Combat Vehicle 90 for the Swedish Army. Five prototypes were delivered in 1988 and were tested during extensive trials for three years. In March 1991, the Swedish Army placed the first series production order for the Swedish Combat Vehicle 90 Family. The first deliveries started in 1993, and now over 500 CV90's have been delivered to the Swedish Army, with final delivery in 2002.

CV9040 is in service with the Swedish Army. It carries an eight men section is designed to defeat other armored vehicles and ground troops. It is fitted with a Bofors 40 mm cannon. The CV9040 is primarily deployed with the Main Battle Tank in the Swedish Mechanized Brigades. The CV9040C has stabilized turret.