Walsh was testing an Australian-built prototype sportscar at Phillip Island on Thursday when he left the track at Turn 1. The car spun off backwards and rolled several times.

He was airlifted to Royal Melbourne Hospital suffering a contusion on his right lung and extensive bruising.

“I think it’s going to be touch-and-go for Bathurst,” Walsh told Supercars.com. He is entered to co-drive at Bathurst with Tim Slade in the BJR Freightliner Racing Commodore.

“I’m going to do some oxygen therapy. The lung might not be an issue, but I’m pretty bruised everywhere, so if all of that goes down I should be fine.

“I’m not even sure what happened (in the crash). Before I even knew anything had happened I was going backwards and flying, before it started rolling over.

“I was conscious the whole time, but I kind of wish I wasn’t, to be honest.

“They wanted me to stay [in hospital] overnight but I was keen to get out of there and get some treatment back at home.

“It’s really too early to tell, but I’m hoping to be ready for Bathurst. I’ll definitely go to the event regardless, so fingers crossed it can all improve enough in time.”

Team owner Brad Jones said the team will wait to see how well Walsh recovers during the week leading into the race before.

“We’ve just got to wait and see how he goes and put a B-plan in place if we need to,” he said.

“It only happened yesterday, so it’s very early. He doesn’t have anything broken, so we’ll monitor him and see how he is.

“We will then make the decision next week about how big a risk it is to put him in the car. But that’s not something you can do one day after the accident.”