Velasquez was taken into custody after the Monday afternoon incident and booked into the Santa Clara County main jail for attempted murder.
A man was wounded in the shooting, according to San Jose Police Department.
KGO-TV's SKY7 was over the scene which showed several police vehicles around a pick-up truck that had all of its doors open on the side of a road.
Police said a man was taken to the hospital with non-life-threatening injuries and the shooting suspect, later identified as Velasquez, was taken into custody.
Police said the motive and circumstances surrounding the incident are still under investigation.