It happened in Dorset Avenue last night when the victim was walking along the pavement with a friend.
They were both hit by a dark-coloured car.
One of the men was then stabbed in his lower body and is in a serious condition in hospital.
More top news
A man from Colchester who had to wait for more than two hours for an ambulance says there's too much strain on our emergency services.
Today will start off with a few sunny spells before rain spreads in from the west. Feeling colder. Highs of 9 degrees C.
Heavy rain will move eastwards overnight. Lows of 4 degrees C. Chance of more showers during Sunday and feeling colder.