Rivian Automotive (NASDAQ: RIVN) recently released its second-quarter earnings update, and there were no real surprises. But it's likely we are in the calm before the storm for Rivian, and investors should start paying attention.

That's because the electric vehicle (EV) start-up is getting ready to begin production next year on the R2 SUV, its first new model. The smaller and less expensive R3 will follow. If these new EVs launch successfully, they should be major catalysts for Rivian's stock. Investors who believe in the Rivian brand, and see the success it has had with its R1 models translating into an expanding customer base, should look at the stock before these catalysts affect the share price.

Rivian differentiated itself from EV industry leader from the start. It launched just a pickup truck and a large SUV model as its initial EV consumer offerings. That immersed it in a growing market that didn't compete with Tesla's popular Models 3 and Y.

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Source Fool.com