Don't Wait for Earnings to Buy Rivian. Here's Why the Time Is Now.

Rivian Automotive (NASDAQ: RIVN) has confirmed that it will release its next earnings report after the market closes on April 30. Shares have lost around 21% of their value since the year began due to a lack of growth catalysts.

But there's a good chance that will all change later this month when earnings are announced. I'm expecting two catalysts in particular. Let's dive in.

Image source: Tesla.

1. Rivian should announce that R2 deliveries have begun

Right now, Rivian has just two electric vehicles in its lineup: the R1T and R1S. Both have been on the market for many years, and when taxes, fees, and options are included, the total price tag of each can easily reach $100,000. That's far too pricey for the vast majority of customers. Around 70% of consumers want their next vehicle to be priced under $50,000. Yet this year, the average price of a new vehicle exceeded $50,000 for the first time.

Rivian's R2 SUV, however, is expected to debut with a base price under $50,000. When Tesla released its first affordable models -- the Model 3 and Model Y -- sales exploded. Today, those two models account for more than 95% of Tesla's total auto sales. Rivian hopes to achieve the same growth trajectory with its R2 SUV.

"We're in the final -- obviously -- stretch of the R2 validation, where we had the manufacturing validation builds, and then we're getting into serious production really soon," Rivian's chief software officer, Wassym Bensaid, said last month. Deliveries to employees are expected to begin this month. And on the next earnings call, we should receive a very clear timeline for production scaling and scaled customer deliveries.

2. What is happening with Rivian's artificial intelligence (AI) investments?

Late last year, Rivian shares reached multiyear highs. From the start of November through the end of December, shares skyrocketed in value by nearly 80%. Why? The most clear catalysts was the company's first "AI Day," which was held on Dec. 11.

That day, the company revealed several new priorities. "Its forthcoming cars will feature lidar sensors, custom chips and an 'autonomy computer' which will enable sophisticated, self-driving features," according to a report from CNBC. "The company has also developed AI models to power its forthcoming Autonomy+ subscription, which it intends to roll out early next year priced at $2,500 up front or $49.99 a month."

I think autonomous vehicles will be a giant market. And I'm not alone. Many experts believe the robotaxi market, for example, could eventually be worth $10 trillion globally. By ramping its AI investments, Rivian is making sure that it can stay competitive in that market. It has already signed a deal with Uber Technologies worth up to $1.25 billion. That deal will have Rivian deliver up to 50,000 R2 SUVs to power Uber's robotaxi division.

Deals like this provide early social validation for Rivian's AI vision. And the next earnings call should tell us even more about how AI will enable new long-term growth catalysts for the company.

Ryan Vanzo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla and Uber Technologies. The Motley Fool has a disclosure policy.