Police said the accident occurred near Kandoth Prem Nagar on Batota-Kishtwar road.
The vehicle veered-off the road and fell into a gorge when the driver was trying to negotiate a sharp curve, resulting in serious injuries to the two, a police officer said.
Passersby rescued both the injured and took them to district hospital in Doda, he said.
The injured have been identified as Danish Rasool and Shafqat Hussain, both residents of Kishtwar, police said.