Li Auto (NASDAQ: LI; HKG: 2015) unveiled a heavily updated second-generation Li MEGA on September 2, 2026, in Beijing, cutting the price of its flagship electric MPV and stripping the lineup down to a single Home trim as the company tries to reverse a steep sales slide for the model.

The new Li MEGA carries a nationwide retail price of 509,800 CNY (c. $75,860), according to Li Auto's official launch announcement. That is 50,000 CNY cheaper than the previous-generation MEGA Home trim, which sold for 559,800 CNY. Orders opened immediately after the reveal, and Li Auto said deliveries would begin within the week.

The MEGA has struggled since its original April 2024 debut, and Li Auto is positioning the refresh as a reset for the nameplate. Deliveries peaked at 3,277 units in September 2025 before a vehicle fire and a subsequent recall of 11,411 units late that year knocked monthly volumes below 1,000 units. By July 2026, MEGA deliveries had fallen to just 336 units, an 88.1 percent year-on-year drop, and cumulative deliveries for the first seven months of 2026 totaled 3,179 units, down 63.1 percent from a year earlier and equal to just 1.4 percent of Li Auto's total sales. Rather than competing head-on with rival MPVs, the company has framed the new MEGA as an alternative to full-size luxury SUVs such as the BMW X5 and Mercedes-Benz GLE.

Underneath the redesign, the new MEGA keeps its 108 kWh ternary lithium battery, supplied by CATL and built on Li Auto's "Qilin" cell architecture, paired with 5C ultra-fast charging on an 800V platform. The battery is rated for 710 km (441 miles) of range on China's CLTC cycle, and Li Auto says a 10-minute charge adds roughly 500 km (311 miles) of range at a peak charging rate of 520 kW.

Power comes from a dual-motor all-wheel-drive setup producing a combined 413 kW (554 hp) and 657 Nm of torque, made up of a 155 kW front motor and a 258 kW rear motor. Li Auto quotes a 0-100 km/h (0-62 mph) time of 4.9 seconds and a drag coefficient of 0.215, aided by semi-hidden door handles and reworked front and rear fascias. Curb weight for the new MEGA comes in at roughly 2,925 kg, and the car keeps its front double-wishbone suspension, now paired with the reworked dual-chamber air springs at all four corners.

The MEGA's relaunch also lands into a premium MPV segment that has gotten considerably more crowded since the model's 2024 debut. Dongfeng's Voyah Dreamer topped China's overall MPV sales chart in April 2026 with 7,017 units, capturing roughly one in three sales in the premium segment alone, while rivals such as the Denza D9, GAC Trumpchi M8 and Buick GL8 also posted strong monthly volumes. Against that backdrop, Li Auto's decision to cut the MEGA's price by 50,000 CNY and reposition it against luxury SUVs rather than other MPVs reads as an attempt to carve out separate ground rather than compete directly on volume.

The chassis picks up the biggest functional changes. Li Auto added rear-wheel steering with up to 7 degrees of angle, steer-by-wire technology, and dual-chamber air springs paired with continuous damping control, which the company markets as an "active anti-roll" system with a claimed 30-millisecond response time. The additions cut the MEGA's turning radius from 6.2 meters to 5.5 meters, and the smart-driving suite grows to four lidar units, up from the previous generation, running on dual "Mach M100" chips with a combined 2,560 TOPS of computing power and Li Auto's Mach VLA 2.0 driving model for highway, urban and parking navigation.

Dimensions are effectively unchanged at 5,355 mm long, 1,965 mm wide and 1,850 mm tall on a 3,300 mm wheelbase, still seating seven across a 2-2-3 layout. The cabin's centerpiece is a 29-inch 6K OLED panoramic dashboard display alongside a movable 21-inch 4K rear screen, both run through a Qualcomm Snapdragon 8797 cabin processor. Front and second-row occupants get zero-gravity seats, and Li Auto added stepless second-row rotation so those seats can swivel to face the third row, along with heating and ventilation for all three rows and 31 individually zoned cabin heating areas.

Zero-gravity second-row seats recline flat, and the third row can swivel to face them. (Li Auto)

Other additions target the MPV's "mobile living room" pitch: a modular floating table that folds out as a dining or side table, an 18-point massage function, a 33-speaker audio system, a 10-liter onboard refrigerator, three motorized moonroofs with electric sunshades, and optional 270-degree electrochromic glass.

A new 396-LED ceiling light strip, which Li Auto calls "Home Light," spans the second and third rows to brighten the rear cabin, continuing the automaker's family-oriented branding for the nameplate. Li Auto also carried over the MEGA's automatic ride-height-lowering "elephant welcome" gesture, which drops the body slightly as a door is opened to ease entry, and the car is offered in five exterior colors.

The new Li MEGA's second-row floating table folds out for dining, work or play. (Li Auto)

The MEGA's relaunch also arrives as Li Auto retools its retail footprint. The company delivered about 406,000 vehicles in 2025, an 18.8 percent decline from the prior year, and moved in early 2026 to close roughly 100 underperforming stores, many of them in costly shopping-center locations, while shifting investment toward larger AutoPark-format outlets and a lower-tier-city partner program. Overall deliveries have kept falling this year, with June 2026 volume down 14.8 percent year-on-year, underscoring the pressure on Li Auto to get more out of every model in its lineup, MEGA included.

Li Auto also confirmed international plans for the model. A right-hand-drive version of the MEGA is scheduled to reach Singapore and Hong Kong by the end of 2026, part of a broader overseas push the company outlined on its first-quarter 2026 earnings call that also includes a European launch of the Li i6 SUV later this year.

Whether a lower price and a longer feature list are enough to revive a model that has spent most of 2026 posting double-digit percentage sales declines will depend on how quickly Li Auto can rebuild trust with buyers after last year's fire and recall, and on how the MEGA's new luxury-SUV positioning lands with a Chinese market that already has no shortage of premium electric options.

Conversion rate: 1 USD = 6.72 CNY as of September 2, 2026.