Thim hit a top speed of 120 mph and Derkatz reached a top speed of 100 mph in a 45 mph zone, the arrest citations said.
The responding state trooper observed the speeds from an intersection on Middle Bridge road, the citations said, about five miles from GM Bowling Green Assembly, where all Corvettes are assembled.
"We are aware of an incident involving our test vehicles and are currently investigating," a spokesman for GM said in an emailed statement to Automotive News. "Safety remains our overriding priority at General Motors. We have no further comment at this time."
"The odor of an alcoholic beverage was present on the breath of the operator," citations for both men said.
A preliminary breath test "detected the presence of alcohol," the citation continued. "The party stated that they were familiar with each other and were employees of GM."
The men also told police they had been together at a local bar before the incident.