A taxi driver grabbed his takings bag and jumped from his moving car after his passenger threatened him with what looked like a knife.
The passenger, a man in his 20s, is reported to have demanded the driver get out after taking a shiny, metallic object from his pocket.
The driver jumped from the car near Condover Social Club on the outskirts of Shrewsbury and the offender drove off at speed.
The taxi, a blue Ford Mondeo with the registration number BJ55 YCZ, was later set alight in a field in Stourport-on-Severn in Worcestershire.
The drama unfolded between about 9.15pm and 9.40pm on Thursday.
Detective Sergeant Simon Morris, who is leading the investigation, said the taxi driver was shaken but not physically injured.
“He picked up the offender at the Lee Fung House Chinese takeaway in Hereford Road, Belle Vue, shortly after 9pm,” he said.
“As they entered Condover, the passenger is alleged to have tussled with the driver for control of the vehicle.
“After taking something shiny and metallic from his pocket, the man is reported to have told the driver to get out or he would ‘get it’, or words to that effect.”
Anyone with information should contact CID on 101.