if that isn't the case, it could be another mod in your mod-list that changes that behevior. I tested with K2 + SE + AAI, and Mk4 locomotives go up to ~560 km/h with rocket fuel (lower values if you dont use Mk4 wagons or lower tier anything). Each tier past Mk1 has increasing max speeds, you can check this value by hovering over a locomotive, in the rightmost informative panel, or by opening the prototype inspector (Shift Ctrl E and searching for locomotive)