Another car, a silver Hyundai i30 with registration CA-41-TN is still missing and police are asking the public for help finding it.

The 23-year-old Moree man was arrested Wednesday after a police chase in which he took off at high speed after being pulled over by police in the stolen Lexus sedan near Dundee before abandoning the vehicle to walk up Ben Lomond, they said.

Police said the man stole keys for both cars from a lot in Glen Innes between 10.30am and 1.45pm on Tuesday and drove it to Moree and then Tamworth, before he collected a female friend.

He allegedly travelled a distance of over 650 kilometres in the stolen vehicle.

He returned at about 3.50am on Wednesday to steal a silver Hyundai from the same lot. Both cars were being stored at the business while being serviced.

Both vehicles drew police attention when they allegedly failed to stop at the Bolivia Hill roadworks at around dawn; they made a U-turn to head back to Glen Innes.

Police intercepted the man in the Lexus near the Dundee intersection of Bald Nob Road, and pulled him over - but as they approached on foot he sped away, quickly and "harshly" accelerating to a speed "well in excess" of the 100 kilometre an hour limit, they said.

Police took off in pursuit at around 4.45am with blazing lights and sirens but ended the chase as they approached Glen Innes due to concerns for the safety of the community.

They located the car abandoned at around 7.50am and arrested two alleged offenders walking on the New England highway up Ben Lomond hill.

The 23-year-old man has been charged with stealing, the illegal use of a motor vehicle, a count of breaking, entering and stealing and attempting to evade a police pursuit. The man was granted bail to appear before Glen Innes Local Court on August 14.

A 21-year-old woman has also been charged.

Police say they will continue inquiries into the alleged incident.