The 770 was introduced with the internal code W07 in 1930. These cars were mainly used by governments as state vehicles.
The W07 version of the 770 was powered by an inline eight cylinder engine of capacity with overhead valves and aluminium pistons. This engine produced at 2800 rpm without supercharging. An optional Roots type supercharger, which was engaged at full throttle, would raise the output to at 2800 rpm, which could propel the car to 160 km/h (100 mph). The transmission had four forward ratios, of which third was direct and fourth was an overdrive.
The W07 had a contemporary boxed chassis suspended by semi-elliptic leaf springs onto beam axles front and rear. Dimensions would vary with coachwork, but the chassis had a wheelbase of and a front track equal to the rear track of .
117 W07-series cars were built.
The 770 was substantially revised in 1938, resulting in the new internal designation of W150. The all-new chassis was made with oval section tubes and was suspended from coil springs all around, with independent suspension at front and a de Dion axle at the rear.
The engine had the same basic architecture as that of the W07, but it had been tuned to produce at 3000 rpm without supercharging and at 3200 rpm with. The transmission now had five forward ratios with a direct fourth gear and an overdrive fifth.
88 W150-series cars were built before production ended in 1943.
In 1973, Mannerheim's 770K, erroneously alleged to have been the parade limousine of Adolf Hitler, was sold at auction for $153,000, the most money ever paid for a car at auction at that time. This broke the previous record price for an antique car, which was $90,000 for Greta Garbo's Duesenberg in the fall of 1972. Mannerheim's car passed that amount within its first minute on the auction block. It was sold to Earl Clark, a businessman from Lancaster, Pa, who wanted the car for a park called Dutch Wonderland. Another 770 sold at the same auction sold for $93,000. Billy C. Tanner, an Alabama developer and George Wallace's 1964 campaign manager, bought it, but he could not secure financing to complete the transaction. Consequently, he sold his option to Don Tidwell, a mobile-home manufacturer.
A 770 had been displayed at the Imperial Palace Hotel and Casino.