The P-plater is accused of striking a man when his Holden Commodore spun out of control at the gathering in Derrimut last month.
The 19-year-old smirked as he was marched from his Tarneit home before dawn, telling 9News “it is what it is”.
Exclusive video of the event shows the victim disappear into a cloud of smoke.
Police believe he would have suffered catastrophic injuries, but he has not identified himself.
Officers from Victoria Police’s anti-hoon taskforce, Operation Achilles, raided the alleged driver’s home this morning at 5am.
They seized his car, a light blue silver Commodore at a nearby factory.
He is facing a decade behind bars, charged with multiple offences including reckless conduct endangering life and serious injury, careless driving and driving in a dangerous manner.
The man has been bailed to appear at Sunshine Magistrates’ Court in December.