The incident happened on Jan. 14 just before 9 a.m.
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Officers with LAPD's Rampart Division were in the area of 6th Street and Witmer Avenue when they spotted the driver of a blue Audi SUV driving recklessly.
According to police, a security camera captured the moment investigators say the suspect, identified as 26-year-old Marc Gonzales, took the SUV from a garage without the owner's consent.
During the chase, a police officer crashed into a light pole.
An LAPD air unit spotted the fleeing Audi and began tracking Gonzales from the air. Police said at one point, he had randomly shot a gun and struck a man sitting inside of a truck that was stopped at a light. A camera inside the truck's cab shows the moment he was shot.
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That man was transported to local hospital that day where he was treated and released.
The chase ended at Hooper Avenue and 12th Street when Gonzales lost control of the vehicle and crashed into a curb, police said. The video shows Gonzales getting out of the SUV holding a handgun.
He then began walking west on 12th Street toward another Rampart unit who arrived in the area.
"The officers ordered Gonzales multiple times to drop his handgun; however, he did not comply and raised the handgun, resulting in an officer-involved shooting," said police in a statement.
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Gonzales was shot at least two times and collapsed on the sidewalk. He was rushed to the hospital that day in stable condition, according to police, and was ultimately taken into custody.
No officers were seriously injured during the incident. Police said a Glock 9-millimeter semiautomatic handgun was recovered at scene.
The complete investigation will be reviewed by the Chief of Police, the Board of Police Commissioners, and the Office of the Inspector General.