A 27-year-old man has been arrested following a series of incidents in Kalkallo and Campbellfield overnight.
Police were called to a Kalkallo address after reports that a man was seriously injured shortly after 10pm.
An altercation allegedly occurred between two men known to each other outside a Bells Avenue home.
A 26-year-old man sustained life-threatening injuries after sustaining stab wounds and being struck by a car.
The Kalkallo man was taken to hospital in a critical condition.
Police conducted patrols of the area in an effort to locate the alleged offender.
Fawkner Highway Patrol officers located a vehicle of interest and attempted an intercept on Sydney Road, Campbellfield about 12.30am.
The driver allegedly refused to pull over and a pursuit was initiated.
The vehicle crashed into a barrier on Mickleham Road, Mickleham a short time later.
Officers approached the driver who allegedly advanced on them with a knife.
The officers backed off and the driver jumped into their police car and fled.
The stolen police car was declared a hostile vehicle, with police on the ground and the Air Wing pursuing the vehicle which was travelling at dangerous speeds.
When the vehicle approached traffic lights on Barry Road, it collided at slow speed with a number of civilian vehicles.
The driver allegedly fled on foot while still armed with a knife that he used to threaten pursuing police.
A police vehicle was used to knock the 27-year-old man off his feet and he was safely taken into custody with minor injuries.
The Mickleham man remains in custody, assisting police with their enquiries.
Any witnesses, or anyone with dashcam or CCTV footage is urged to contact Crime Stoppers on 1800 333 000 or make a confidential report at www.crimestoppersvic.com.au