Rivian raises guidance as software outpaces car margins

Rivian’s software and services business generated more gross profit than the company as a whole during Q3 2026, with 59% of its revenue coming from the Volkswagen joint venture, as the R2 became its best-selling model and full-year delivery guidance rose. However, that reliance could be jeopardised: Volkswagen is reportedly weighing most of its volume models to an architecture co-developed with China partner Xpeng.