After the successful development of the CV 90105, its manufacturer decided to start the development of its successor, still working with the CV 90 chassis as a basis but with a 120 mm cannon designed by SW Swiss Ordnance Enterprise Corporation to increase the tank's firepower to MBT levels. The design remained focused on reducing weight and increasing speed, considering the tank relied on its speed and good fire control systems to survive. The vehicle is still in development and being improved, even after the design was finished, its final version was shown at an arms exhibition in 2011.

It was introduced in Update 1.97 "Viking Fury". The CV 90120 builds upon the legacy of the CV 90105, with a more powerful cannon, a very quick reload rate thanks to its autoloader and barely enough armour to hold itself against HMG AP shots from the front. The tank is thus vulnerable to autocannon fire and 12.7 mm HMGs can penetrate the side armour. However, it does feature one of the best fire control systems in the game, with excellent third generation optics for both gunner and commander, and the commander's CITV having a very good zoom, up to 24.0x magnification.