Thim was driving a red Corvette that reached a speed of 120 miles per hour, according to the citation.
The arrest citation says the drivers told police they had been at a pool hall earlier in the night.
Mark Derkatz (left) of Windsor and Alexander Thim (right) of West Bloomfield, Mich., in booking photos via Kentucky State Police.
They were charged with reckless driving, racing on a public highway and driving more than 26 miles per hour faster than the posted speed limit.
The arrest report states that a preliminary breath test on the drivers detected a smell of alcohol.
Both men work for General Motors.
In addition to Bowling Green, Kentucky, being the manufacturing home for the Corvette since 1981, it is also the location of the national Corvette museum.
It is uncertain whether both Thim and Derkatz are still now employed by GM. The pair are due to appear at Warren District Court for a pretrial hearing on February 18.
The duo were lodged in the Warren County Regional Jail and released on a $1,000 bond.
In a statement to The Drive, GM confirmed "an incident involving our test vehicles" and added that it was investigating the matter. "We have no further comment at this time", GM said. Two General Motors employees were arrested for allegedly racing new Corvettes on public roads.
Unlike previous generations of the Corvette, the C8 situates its engine mid-car, behind its seats.
The pair of Corvettes were summarily towed away and impounded in a tow lot before being picked up the following day by the "cars owner" - presumably a General Motors fleet manager.
Automotive journalists voted it the North American Car of the Year on Monday.