Kia Overtakes Hyundai in Value as EV Sales and New Model Lineup Fuel Growth
• Kia surpasses Hyundai in market value for the first time since 2001, now South Korea's 5th most valuable company • Kia stock surging after strong earnings and 2024 guidance, including new affordable EVs like the EV3, EV4, and EV5 • Kia targeting 3.4% operating profit growth in 2024 despite "difficult business environment" • Kia EV sales projected to grow 50% this year to 270,000 thanks to new "EVs for all" lineup • Kia transforming plant to produce 150,000 EVs annually including EV3 and EV4 models, targeting 1 million EVs sold by 2026