A 25-year-old man was attacked from behind in Lachlan Crescent in Linburn, Erskine at about 05:50 on Friday.
The attacker, a heavily-built man, then escaped in a car in the direction of Old Greenock Road.
The injured man was taken by ambulance to the Royal Alexandra Hospital in Paisley where he was treated for facial lacerations.
The getaway car is thought to have been a Nissan Qashqai or Nissan Juke.
The suspect has been described by police as about 5'10", of heavy build. He was wearing a dark hooded top with the hood up.
Det Con Derek Johnston said: "This appears to have been a targeted attack and enquiries are being carried out to establish a motive for this assault, and of course trace the man responsible."
Police investigating a serious assault in Erskine have said they believed it was a "targeted attack".