The Hansa automotive company had been established as a car and truck makers since 1905. During the Great Depression in 1929, Hansa-Lloyd was bought by Carl F. W. Borgward as the factory was located opposite to his own Goliath factory on Föhrenstrasse in Bremen-Hastedt. The range of trucks of Hansa-Lloyd was complementing the Goliath range, and the purchase allowed Carl Borgward to fulfill his dream to produce his own cars.