Li Auto Launches New MEGA at RMB 509,800, Cuts Price RMB 20,000

On September 2, Li Auto officially launched the new-generation MEGA, its flagship pure-electric MPV. The new model is offered solely in the Home trim, priced at RMB 509,800, which is RMB 20,000 lower than the starting price of the previous version. It retains the current model's streamlined body design, with upgrades focused on the chassis, driver assistance, and cabin experience. Positioned for multi-member families, the MEGA continues to reinforce the "mobile home" product concept.

Before the launch, Li Auto Chairman Li Xiang again addressed the MEGA's design controversy on social media. He said, "The risk of imitation is always far lower than that of originality," and that yielding to outside voices would make it hard to create a product truly remembered by the world. "We want the MEGA to be a product remembered globally, and we will not change our commitment to it just because of more noise," Li said. Exterior changes are limited to details such as front and rear bumpers, door handles, wheels, and the tailgate. On the mechanical and intelligent configuration front, the new model adds rear-wheel steering, steer-by-wire, and active anti-roll bars, addressing user feedback on the previous model's turning radius, parking agility, and body roll in corners. For driver assistance hardware, the number of lidar units rises from one to four, and the vehicle is equipped with Li Auto's self-developed Mach M100 intelligent driving chip. The cabin gains a full-width integrated display and a roof-mounted main light, with revised seats and foldable tables.

The second-row seats can switch among 45-degree welcome, 90-degree viewing, and 180-degree face-to-face modes. Combined with detachable tables, they form a face-to-face lounge with the third row, covering parent-child interaction, temporary office work, and short board-game sessions.

When the MEGA first launched in March 2024, Li Xiang expressed confidence it would become "the best-selling product above RMB 500,000, regardless of energy type or body style." By wholesale data from the China Passenger Car Association (CPCA), the MEGA sold 3,229 units in its launch month, falling to 1,145 in April, with full-year 2024 sales of 10,798 units. In 2025, sales recovered with the model refresh and the MEGA Home family special edition. June 2025 wholesale volume reached 2,304 units, making it the top-selling MPV above RMB 500,000 that month; August and September sales rose further to 3,121 and 3,277 units, with full-year 2025 cumulative sales of 18,541 units. In 2026, MEGA sales declined again. By Dongchedi's model-level sales data, from January to July 2026, monthly MEGA sales were 414, 388, 576, 670, 469, 326, and 336 units, totaling about 3,179 units. July sales fell approximately 88% year-on-year.

CPCA narrow passenger vehicle wholesale data also showed MEGA sales of 336 units in July, placing it near the bottom of the new-energy MPV market ranking.

On September 1, Li Xiang said on social media: "If we only consider short-term sales, making SUVs is more cost-effective. I think sedans and SUVs sell well now, but the ultimate form of family vehicles will be MPVs. In the L3 and L4 era, driving attributes weaken, and MPV advantages such as large space, high comfort, and easy entry and exit will be infinitely amplified. Doing MPVs well now is essentially positioning for future product strength." According to Guotai Haitong Securities' estimates, MEGA sales accounted for about 2% of Li Auto's total sales in Q2 2026. Li Auto's Q2 2026 earnings report showed a gross margin of 11.0%, up 3.1 percentage points from Q1 but down 9.1 percentage points year-on-year; vehicle margin was 9.4%, up 3.3 percentage points quarter-on-quarter but down 10 percentage points year-on-year. Management attributed the sequential margin improvement mainly to the launch and delivery of the new Li L9 and product mix changes.