This is the standard German Blitzkrieg action. Only Panzer Armies fully supplied with fuel and ammos can Blitz. You will also need some available aircrafts for direct close air support.
If this action is successful, the Panzer Army will make a breaktrough and in position to wreak havoc behind ennemy lines. However, your units may become isolated and hard to supply while rampaging the far rear of ennemy’s armies.
After a successful Blitz, an army may be able to operate “Deep raids”, “Reversed Front” and “Behind the lines raid” actions.