A 24-year-old man from Deer Park was arrested on Friday as part of an investigation into a pursuit in Moonee Ponds last month.
Police executed at addresses in Deer Park, Carlton, Port Melbourne, Yarraville and Cranbourne on Thursday and Friday.
The warrants follow an incident shortly after 7.20am on Saturday, December 24, when a silver Volkswagen Passat was being pursued by a stolen white Toyota RAV4 through the Moonee Ponds, Essendon and Coburg areas, with witnesses reporting allegedly hearing gun shots.
The Volkswagen, pursued by the Toyota, is captured on dashcam footage running a red light at the intersection of Buckley Street and Pascoe Vale Road in Essendon, veering onto the wrong side of the road.
It appears an occupant of the Toyota fires several shots in the direction of the Volkswagen, which is later located on December 31 with a shattered rear windscreen which police believe is gunshot damage.
The stolen Toyota is then seen travelling at high speed on the incorrect side of Bell Street, Coburg and allegedly disobeys a red traffic signal, crashing head on into another motorist and ricocheting into several other vehicles.
Detective Acting Inspector Ash Ryan said they believe that it was a targeted attack.
Anyone with information can contact Crime Stoppers on 1800 333 000 or at www.crimestoppersvic.com.au