The Köf III was a light shunting locomotive intended to fill the gap between the group I and II light locomotives and the V 60 shunter. According to its designation it was powered by a diesel engine via hydraulic transmission. It had chain drive between the Voith transmission and the axles. The engine came from Motorenwerke Mannheim and delivered 240 hp. After five prototypes built in 1959, 312 production locomotives were built with this configuration.

Between 1968 and 1978, 250 more were built which were powered by cardan shafts and final drives instead of chains. By this time, the original variant had become class 332 and the new variant became class 333. Starting in 1988, many locomotives of the class 333 were rebuilt to class 335 with remote control to save staff costs. Their older class 332 sisters were withdrawn from the mid-nineties. The class 333 without remote control followed, but in 2019, the DB still operated about 40 locomotives of the class 335.