The victim, in his 20s, was attacked just before 2am on Friday in Selborne Street, in The Chuckery estate of Walsall.
The attack is believed to have been targeted, West Midlands Police say.
The man remains in hospital in a stable condition.
A West Midlands Police spokesman said: "Police were called to Selborne Street, Walsall shortly before 2am this morning after a motorist was assaulted by a group of people armed with weapons in what is believed to be a targeted attack.
"The man, in his 20s, is in hospital with serious injuries but remains in a stable condition.
"CCTV enquiries are ongoing and there in an increased police presence in the area.
"Anyone with information about the incident is urged to contact police via live chat at west-midlands.police.uk between 8am and midnight, quoting crime reference 20WS/200250M/19.
"Alternatively, people can call 101 anytime or contact Crimestoppers anonymously on 0800 555 111."