The video shows the R8 driver attempting to complete a U-turn on a busy road, and at high speed.
The high speed maneuver causes the R8 to drift wider than the driver is likely to have anticipated, which then causes the exotic sports car to come into contact with another vehicle traveling in the same direction.
The other vehicle, which motoring blog Carscoop suggests is likely to be an older-generation Lada Samara, flips over from the force of the impact and comes to land on the side of the road. The driver of the R8, after pausing momentarily, speeds off from the scene, even driving through a red light to escape.
Fortunately, there are a number of bystanders that come to the aid of the Lada driver, who managed to walk away from the wreck. Hopefully this video footage helps investigators find the driver of the R8.