Rivian's software revenue reaches $515 million, with 60 percent from the VW venture

Rivian’s second-quarter results quantified something the industry usually keeps vague: what vehicle software is worth as a product line. The company’s software and services segment generated $515 million in revenue, up 37 percent year over year, at a 42 percent gross margin.

Of that, $308 million — roughly 60 percent — came from the joint venture with Volkswagen Group. Rivian and VW Group Technologies, formed in 2024, is developing the zonal electrical architecture and core software stack for future Volkswagen Group vehicles, and the quarterly figure effectively prices VW’s ongoing access to Rivian’s engineering.

For an industry debating whether vehicle software is a cost center or a business, the disclosure cuts both ways: it proves an OEM will pay hundreds of millions per quarter for someone else’s stack — and it shows the seller booking margins that vehicle manufacturing itself rarely delivers.