Alexsander Grondal (DICE developer) spoke with IGN about Battlefield 3's Operation Firestorm map and covered various aspects of gameplay. One topic covered was vehicles and a "sprint/boost" capability that will be offered in Battlefield 3's vehicles. The only known vehicles to sponsor this feature are tanks, but there is the possibility that it will be on infantry vehicles, APC's, and other ground warfare machines. The video did not reveal any actual Battlefield 3 gameplay with the turbo in use. There isn't any information on whether or not this feature is an unlock either, it does not show up in the list of vehicle unlocks.
This feature does not turn the game into a Twisted Metal like battle though. Vehicles won't just take off at immense speeds and continue to fight without a problem. The actual increase in speed is estimated to be about 25% more speed. While the sprint mode is engaged, it takes a lot of finesse to continue to engage the enemy. The true purpose of this feature in Battlefield 3 is to evade enemies and/or quickly move from point A to point B.