Three men carrying knives and a hammer attacked a man in his 20s after entering a property in Brown Birks Road at around 7.45pm yesterday (Friday, December 18).
The group then proceed to take jewellery and the man's car keys before making off from the scene in a blue BMW M40i, registration plate NL67 BVA.
The victim suffered a number of skull fractures and was taken to Royal Blackburn Hospital before being transferred to Royal Preston Hospital for treatment.
No one else was injured in the attack.
Police say the BMW has yet to be recovered and detectives are now urging anyone with information about the incident to come forward.
Det Insp Tracey McMurdo, of Lancashire Police, said: "This was a violent assault which has left a man with serious injuries.
"Did you see any individuals in the Huncoat area acting suspiciously around the time of the incident?
"We would urge anyone who has CCTV or dashcam footage from their vehicles between 7pm and 8pm, in the Bolton Avenue or Burnley Road area, to contact police immediately."
Police say they are treating this as an "isolated incident" and there will be extra patrols in the area.
Anyone with information can contact police on 101, quoting log number 1315 of December 18.
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