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The motorcyclists were Grant John Roberts (43), of Timaru and Dennis Michael Pederson (54) of Tauranga.
Roberts was a member of the Road Knights gang.
Police said the driver of the car, a 20 year old woman visiting from China, faced two charges of careless driving causing death relating to the crash. Other charges are likely to follow.
The woman is injured and receiving medical treatment, but is likely to appear in the Alexandra District Court later today.
The 20-year-old female pillion passenger on the rear of one of the motorcycles remains in a critical condition in Dunedin Hospital. Police say her name will not be released.
Police have repeated a call for witnesses to the crash.
"We are particularly interested in movements of a dark coloured Nissan sedan with a single female occupant traveling south from Omarama towards Cromwell between midday and 2.15pm yesterday.
"We believe that this vehicle was following a white stationwagon a short time before the crash occurred. We would like the driver of that white stationwagon to contact police," Senior Sergeant Ian Kerrisk, of Alexandra, said.
He also asked for sightings of a group of 8-10 motorcyclists on large Harley Davidson motorcycles traveling from Cromwell towards Omarama yesterday afternoon around the same time.
Cromwell police have had several people contact them today with information and that is appreciated.
Alcohol is not suspected to be a factor in the crash. Police staff, including the Police Serious Crash Investigator are continuing to work on the investigation.