Fortunately, the video is fake. It was created by Israeli Yossi Shahar six months ago using Adobe After Effects and he posted it as an example of how to use the program. (And the effect is very impressive.)
Apparently Arabs are quite gleeful at the idea of a Jew being brutally hit by a taxi. Of course, they claimed that this was a "settler" in their version.
(h/t Gidon Shaviv)