No, that is not the modern day spin-off to Wargaming's World of Tanks (though that's not a terrible idea). It's Armored Warfare, a new free-to-play game from South Park and Pillars of Eternity developer Obsidian Entertainment and published by Russian company, My.com.
According to My.com, Armored Warfare will let you take command of your own Private Military Corporation, develop your base, and collect, upgrade, and drive powerful modern military vehicles in competitive PvP battles. That leaves it open to turn out completely different, but boy does it look and sound just like World of Tanks.
My.com is located in Mountain View, California, but is a subsidiary of a Mail.Ru, which is the largest internet company in Russian-speaking countries. It has a mobile mail app, a chat app, some free to play mobile games, and lately it's been getting into free-to-play games on PC. It's publishing World of Speed, which is being made by the same developer behind Project CARS , In addition to Armored Warfare, today it also announced MMORPG Skyforge, which Obsidian is attached to as well.
Obsidian is only partially involved with Skyforge, working in conjunction with the Russian Allods team, and focused on developing character classes, combat, and instanced story and group content.
You'd think it'd be the other way around given the studio's history with RPGs, but it's actually Armored Warfare that Obsidian is building from the ground up, a company representative told us. It'll be interesting to see what new things it bring to the table and if it can compete with World of Tanks at all.