UPDATED 1.03pm: A Canterbury businessman at the centre of a case of extreme road rage has been remanded in custody to await psychiatric assessment.

The 51-year-old allegedly ran down a Christchurch father on Monday night, while he was out walking with his young children along the Eyre river.

The family's puppy was hit as the driver left the scene, and was later euthanised.

The man will spend the next two weeks in Hillmorton Hospital before re-appearing in court on April 9.