Police opened an attempted murder inquiry after four teenagers were struck by a car.
A 17-year-old youth was taken to the John Radcliffe Hospital in Oxford with serious head injuries as a result of the incident in Jerome Way, Shipton-on-Cherwell, near Kidlington, at 11.15pm on Friday.
A Thames Valley Police spokesman said yesterday that the youth was in a stable condition.
Two other 17-year-old youths suffered minor injuries, while a fourth 17-year-old escaped unhurt.
All the teenagers are believed to live in Kidlington.
Shocked residents in Jerome Way said they heard several bangs outside their homes, but they had not seen what had caused the commotion.
One, who asked not to be named, said: "I heard a few bangs, so I came outside to have a look.
"My son went down the road and found the boys lying in the road. One of them was in a bad way and my son called the ambulance.
"This is a quiet village you don't expect that sort of thing to happen."
Another neighbour said: "I was in bed when I heard a noise outside. I went to check my car but I didn't see anything and I don't know what happened."
Police are appealing for witnesses. Anyone with information should call Det Sgt Matt Bick, of Banbury CID, on 08458 505505 or Crimestoppers on 0800 555111.
An unnamed 34-year-old man, who was arrested and questioned on suspicion of attempted murder in connection with the incident, was yesterday released on police bail. He has been told to return to Banbury police station on July 25.
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