The pair suffered critical injuries and died at the scene after the car they were standing near was allegedly struck by the Commodore.
A passing taxi, being driven by a 24-year-old man was struck by one of the vehicles when it was pushed into the third lane by the force of the impact.
The driver of the Commodore was taken to hospital for treatment of minor injuries and mandatory testing, before being released.
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Police arrested the 41-year-old man at his home in Burwood about 7.30pm yesterday.
He has since been charged with two counts of dangerous driving occasioning death – drive manner dangerous, and negligent driving occasioning death.
He’s been refused bail to appear in Parramatta Bail Court later today.