After World War II, Carl Borgward started Lloyd as a lower-priced alternative to the higher-end Borgward family of cars. Lloyd’s first car, the LP 300, was introduced in 1950. Due to the lack of steel available after the war, the LP 300 infamously had a wood and fabric body, leading to the well-known phrase "Wer den Tod nicht scheut, fährt Lloyd" (“He who is not afraid of death drives a Lloyd”).