The drivers told police they had been at a pool hall earlier in the night, according to the arrest citation.
Police clocked Alexander Thim and Mark Derkatz going 100 mph in a 45 mph zone, and said Thim hit 120 mph at one point.
The two are now facing charges of speeding, reckless driving, and racing a motor vehicle on public roads. The citation also says the odor of an alcoholic breath on both drivers.
It said Bowling Green Assembly is the only location that builds the model of vehicle its employees had taken for a joyride.
It is uncertain whether both Thim and Derkatz are still now employed by GM.
'Safety remains our overriding policy, ' the company said.
The day after their arrest, the two men were arraigned at the district court of Warren County, Kentucky, where they were scheduled for their next appearance on February 18.
The duo were lodged in the Warren County Regional Jail and released on a $1,000 bond.
Unlike previous generations of the Corvette, the C8 situates its engine mid-car, behind its seats.
The 2020 Chevrolet Corvette Stingray isn't even in production yet, but the high-performance sports vehicle is already on the wrong side of the law. Two General Motors employees were arrested for allegedly racing new Corvettes on public roads. The company replied that it is "aware of an incident involving our test vehicles" and is now investigating. "We have no further comment at this time", GM said.
On Monday, the 2020 Corvette won the North American Car of the Year Award in Detroit.