Bora-Hansgrohe's Lennard Kämna was struck by a driver and seriously injured while training during an altitude camp in Tenerife on Wednesday.
The 27-year-old is preparing to race the Giro d'Italia this year, with the Tour of the Alps (April 15-19) the next race on his calendar.
Bora-Hansgrohe announced on Thursday that the rider is in the intensive care unit in the hospital in Tenerife with "numerous injuries".
"Lennard Kämna is in a stable condition, he is awake, responsive and able to communicate," the team announced. "He is receiving very good care in the hospital on Tenerife and will be monitored in the intensive care unit over the next few days. Members of his family and the team are with him.
"According to initial findings on the accident, the driver of an oncoming vehicle turned left into Lennard Kämna's lane and collided with him. At the time, he was riding with the training group, which was accompanied by team coaches. No other team riders or coaches were involved in the accident."
Team manager Ralph Denk said, "We are relieved that Lennard's condition has stabilized after this serious accident and that he is doing well under the circumstances. The whole team feels for him, and we all wish him a speedy recovery.
"From the team side, we will continue to do everything necessary to ensure that he makes a full recovery from this accident. That's all that matters now - anything else can wait."
The team initially announced Kämna's injuries on Wednesday, writing on social media, "Today we were unfortunately reminded once again how dangerous our sport can be. Lennard Kämna was involved in a traffic accident today that occurred during a training ride on Tenerife.
"He is currently in hospital for further examinations. More details asap. Get well soon Lenny!"
Last year Kämna finished ninth in the Giro d'Italia and was due to lead the team in May.
The incident came on the same day that his teammate Primož Roglič crashed hard during stage 3 of the Itzulia Basque Country. He was able to finish the stage after being cleared of any concussion symptoms and kept his overall lead in the race, however, according to the team, "he suffered superficial wounds on his right side, contusions and bruising".
Roglič was also due to have a further examination of his injuries after the stage in Itzulia.
