The Panzer V was a Medium Tank used by Blue Germany in the early 1940's.
As Blue Germany completed its rearmament in response to the Fascist Crisis, the Panzer Corps decided to replace the Panzer III and Panzer IV with a single vehicle. The specifications for this new vehicle, to be in the 20-ton range, were tendered in 1939 under the project name VK 20. Several designs were submitted by leading German vehicle companies, and eventually the design produced by Daimler Benz was selected for production.
The Panzer V began production in early 1942. The Waffenamt planned to standardize the Panzer Corps using different variants of the Panzer V, replacing the Panzer III and IV entirely. Panzer IIIs were to be replaced by Panzer Vs utilizing the 5 cm KwK 38 L/42 gun, while Panzer IVs were to be replaced by Panzer Vs utilizing the KwK 37 7.5 cm L/24 gun. Before production began, though, it was decided to replace the L/24 gun with the KwK 41 7.5 cm L/43 gun, as Panzer IVs were also being upgraded to this standard.
Several Panzer Vs were present during the First Alsatian Conflict in 1943, where they came off rather worse against more advanced French tank designs. In particular, the two FCM F1s encountered by the Germans completely outclassed every tank the Germans were fielding (including the new Panzer VIs), and spurred development of much larger tanks, resulting in the Panzer VII and Panzer VIII.