Investigations are ongoing following a collision involving two pedestrians, who sustained serious injuries.
The collision happened on Everingtons Lane at around 4.14pm on November 10.
Officers, along with other emergency services, attended the scene and the men, aged 20 and 38, were taken to hospital.
The Ford Transit van left the scene, and a pursuit along the A52 was carried out. The van then came to a controlled stop after a stinger was used on the A52 Wainfleet Road, Boston.
Officers arrested the 33-year-old suspect, who remains in custody and will be questioned in due course.
Detective Chief Inspector Rachael Cox said: “We understand residents may be concerned about this incident and we would like to make clear to the public that this is an isolated incident, and we do not believe it was related to an act of terrorism.
“Our investigation is ongoing and we would ask the public to refrain from speculating on social media. We will have officers in this area carrying out inquiries so please do speak with them if you have any concerns.
“We are appealing for any witnesses who we have not yet spoken too, to call us on 101. We would also like to hear from anyone who may have dashcam footage or CCTV of the area at around the time incident happened.”
Anyone who can assist with the investigation is asked to call police on 101, quoting incident 307 of November 10.