"Lockheed Martin's High Mobility Vehicle or Common Vehicle Next Generation (CVNG) will provide the base platform for this development effort," the city-based firm said in a statement.
Ashok Leyland would serve as the prime contractor and provide "high quality", "cost effective" manufacturing hub for global requirements of the vehicles, it said.
As a licensed manufacturer of CVNG, the association with Lockheed Martin opens up a huge opportunity towards exports of vehicle platform as a Made in India product, it added.
"Our CVNG is a proven and versatile multi-terrain vehicle currently in service around the world. We are excited about the opportunities that exist to offer the CVNG to India and beyond," Lockheed Martin Missiles and Fire Control Vice-President Ground Vehicles, Scott Greene said.