Hyundai and Kia zip into the US car market’s fast lane

News Snapshot:

South Korean automakers Hyundai and Kia already make some of America’s most popular cars, particularly in the hybrid category. Now geopolitics is helping them be even more competitive in the growing EV market. Investors in the companies, which have designs and some ownership in common, have found themselves in the fast lane as a result. Shares of Hyundai Motor have gained 85% since the end of 2022 while those of Kia have more than doubled. Hyundai is Kia’s largest shareholder with a 34% stake. The two companies reported record earnings last year, with both increasing their operating profits by more...