The powerplant was a rear-mounted 4-cylinder water-cooled gasoline engine (SPA 18D, Fiat 18D or Model 18 VT type) spitting out up to 70 horsepower at 2,500rpm. Fuel was limited to 44 gallons and stored in two internal fuel tanks offering fuel efficiency numbers of 2.8 miles per gallon along roads while degrading to 1.1 miles per gallon cross country. The engine was mated to a transmission system that offered 4-forward and 1-reverse modes. A reduction gear offered four lower speeds. Steering was accomplished via a clutch brake while the starter was an electrically-based system tied to a magneto ignition.
Performance specifications set the L.40 a top speed at 26.3 miles per hour. Road range radius was limited to 125 miles with a 50-mile limit cross country radius. Fording depth could be no deeper than 2 feet, 7.5 inches with this being the same limit for vertical obstacle traversing. The L.40 could tackle slopes of up to 40 degrees.
The L.40 saw its first action in the Western Desert during the 1942 campaign. The system initially fared well against the likes of the light- and medium-armored Allied tank systems. However, crew protection was still a glaring issue for the L.40 despite its armored superstructure. The L.40 crew would only later receive some light overhead protection in the form of a retractable canvas top.
As the war progressed in favor of the Allies, theL.40s days seemed numbered, particularly as Allied tank armor increased and Allied air support was ever-present. Despite the inherent limitations, the L.40 was one of the better tank-killing systems available to the Italian army. It was also a relatively painless and cheap conversion project for the outclassed and outgunned L.6 tank series.
The Italian Army also showcased their L.40s in battles against the Red Army along the Eastern Front as part of the German Army Group South, seeing some limited successes there. The signing of the armistice with the Allies by the Italians signaled the local end for the L.40. Germany retained whatever L.40 components it had access to and tried to keep them in service during the battles ranging across Italy. However, the unforgiving terrain of the Italian Theater made many-an-armor confrontation a difficult prospect. As such, the L.40 was relegated to service as mobile armored command posts for the Third Reich. The L.40 in command form had their 47mm main guns replaced with a "disguised" 8mm machine (the machine gun made up to look like a 47mm main gun). Additionally, these L.40s carried applicable radio equipment onboard wherever possible. The lack of onboard projectiles provided for the needed space. Still other L.40s were converted as ammunition carriers.
Some L.40s were delivered to Axis-allied Croatia.
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