Senior Constable Chris Blackford of Queenstown police said: "The vehicle collided with an Armco railing and then hit a rock wall." Both Mr Khan and Chaudhry died at the scene.
The weather conditions on the range were described as challenging, with hail and snow showers. The truck was travelling downhill.
Mr Blackford said the truck was registered and had a warrant of fitness.
"We won't know the reason it crashed until the investigations are complete", he said.
Both men's families had been notified and the deaths referred to the coroner.
Yesterday's crash is the second multiple fatality in less than a week in the district, after three tourists were killed last Thursday near Wanaka.
Driver Wing Fai Chan, 60, also known as Allan, and two female back-seat passengers, Kwai Tei Chong, 61, also known as Connie, and Yin Wan Ng, 56, were killed after their hired vehicle and a truck and trailer unit collided on State Highway 6, near Luggate.
A fourth passenger, a 59-year-old man, also from Hong Kong, was flown to Dunedin Hospital with serious leg injuries.
He was discharged on Monday.
