The police watchdog said the deceased are Nathan Wehrle, 15, of Cambridge and Taryn Hewitt, 16, of London.
There were earlier reports that indicated the Waterloo Regional Police were investigating an abduction which sparked the chase between officers and the vehicle.
One woman who was in the area at the time told CTV News that she saw a red vehicle parked on the wrong side of King, with a man and a woman inside.
Officers attempted a traffic stop on King Street, but say the driver led police on a high speed pursuit down the eastbound 401 to Highway 6 towards Hamilton.
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They will also provide important information about the leading causes of deadly crashes. According to his sister, as interviewed by CTV, Wehrle was known to steal cars and his youthful reaction to flee police may be related to this.
"I just want everybody to know that my brother would never do something like that", she says.
"Stealing cars was his thing", she said.
Ontario's Special Investigations Unit was called in, as is protocol any time there's an allegation of sexual assault or a person is seriously injured or killed when dealing with police in the province. Operation Impact is a national road safety campaign and local police have created four different public displays of vehicles that have been involved in serious collisions. Michael Haffner said Friday. The owner of a pizzeria there says he has handed off footage from Thursday morning to police.