March 3, 2026
by Carla Hay

Directed by Han Han
Mandarin with subtitles
Culture Representation: Taking place in China, the action film “Pegasus 3” features a predominantly Asian cast of characters (with some white people) representing the working-class, middle-class and wealthy.
Culture Clash: A championship racing team experiences new obstacles when they enter an international race that is marred by corruption and vehicle malfunctions.
Culture Audience: “Pegasus 3” will appeal primarily to people who are fans of the movie’s headliners, the “Pegasus” movie franchise and crowd-pleasing films about car racing.

“Pegasus 3” delivers exactly what fans expect from a movie series about racing car drivers who experience obstacles during high-stakes races. Yes, the movie’s ending is predictable, but it’s a wild ride getting there. Even with all the excitement, drama and spectacle, “Pegasus 3” is not as suspenseful as 2019’s “Pegasus” and 2024’s “Pegasus 2.” The “Pegasus”franchise shows signs that it’s running out of ideas for the same characters and might need a new generation of race car drivers to reinvigorate the franchise,
Han Han wrote and directed “Pegasus,” “Pegasus 2” and “Pegasus 3.” With each sequel, it becomes more difficult to depict the main characters as “underdogs,” considering the outcomes of each movie. However, “Pegasus 3” has some believable obstacles, including corrupt officials, mechanical malfunctions and dangerous weather.
In the beginning of “Pegasus 3,” longtime friends/racing colleagues Zhang Chi (played by Shen Teng), Sun Yuqiang (played by Yin Zheng) and Ji Xing (played by Zhang Benyu) are basking in the glory of winning the Bayanbulak Rally, which was the climactic race in “Pegasus 2.” Chi is the leader of the group and has a reputation for being an inspirational driver who doesn’t give up easily. Yuqiang is outspoken and a little bit of a rebel. Xing is mild-mannered and handles the team’s mechanical and technical issues. Chi and Yuqiang aren’t ready to retire as professional race drivers.
The trio still has a school for aspiring racers and gets some good news and generous gifts from Laotoule Automobile Factory owner Xin Di (played by Jia Bing), who was the team’s sponsor for the Bayanbulak Rally. Di has given the team a first-generation Aoyun car and the use of an old Laotoule Automobile factory as extra space for the team’s driving school. The team’s elation at receiving these gifts is short-lived.
Yuqiang, who manages the team’s financial matters, has bad news for the team: Their driving school is actually losing money. One way that the school can be profitable is to charge much more money for lessons, but it would be at a price that most of the students wouldn’t be able to afford. Another option would be to use the ¥2.5 million prize money from the Bayanbulak Rally to keep the school financially afloat.
Chi is dead-set against this idea. “The ¥2.5 million is a safety net,” he tells his team members. Chi says he would consider competing in another major rally to win prize money. However, Chi has set this rule: “There’s no way I’m racing on my own money.”
Also on the team is Manager Ye (played by Wei Xiang), who provides some of the movie’s comic relief because of his goofy personality. Ye is somewhat of a hanger-on who does assorted duties, including being a chauffeur for the team’s core trio. Ye used to be a manager for a professional champion racing team, but he was fired after the champion team had its first major loss.
As fate would have it, a technical engineer named An Zhongzu (played by Duan Yihong) from a company named SYLAD approaches the trio about the team competing in a new race called the Muchen 100 Rally, an international competition that has a unique feature: At a certain point in the race, the drivers can choose to take one of two paths. Zhongzu makes the offer more enticing when he says SYLAD chief Bai Qiang (played by Sha Yi) wants SYLAD to sponsor the team, which will be the first racing team to use SYLAD’s new SS1 driver-assistance technology.
Chi gets a tour of the SYLAD headquarters and is treated like a national hero. Qiang is so impressed with Chi, he gives Chi the use of the spacious office that Qiang used to have at SYLAD because Qiang now has another office in the building. Of course, when something is too good to be true, it usually is. Chi has some concerns that the SS1 technology is intended to replace a co-driver in races.
For the time being, Chi puts those concerns aside because SYLAD is a financially lucrative sponsor, and Chi wants to keep the team in Qiang’s good graces. A recurring joke in the movie is how Chi always lets Qiang win in their pool games against each other. SYLAD seems completely supportive of Chi and his team, which is why Chi agrees to the sponsorship deal.
As part of the deal, SYLAD agrees to Chi’s idea to have a contest to choose the four young racers who will be part of the team for the Muchen 100 Rally. Among those competing for these four spots on the team are Lin Zhendong (played by Huang Jingyu, also known as Johnny Huang), who was Chi’s main opponent in the first “Pegasus” movie; Li Xiaohai (played by Fan Chengcheng), who was Chi’s co-driver in “Pegasus 2”; Liu Shihao (played by Hu Xianxu), who has a reputation for “genius”-level driving; Li Lun (played by Zhang Xincheng), who is the son of one of team’s other sponsors; and Chi Haisheng (played by Aarif Rahman, also known as Aarif Lee Zhi-ting), who is the most arrogant one of them all.
Of course, it wouldn’t be a “Pegasus” movie without major setbacks for the “hero” team. There isn’t a lot of racing action in the first third of “Pegasus 3,” but once the racing starts, the scenes are thrilling. The chemistry between Teng as Chi, Zheng as Yuqiang and Zhang as Xing remains inact and one of the appealing aspects of the “Pegasus” movie.
However, “Pegasus 3” needed improvement in developing the characters of the younger drivers, who could represent the future of this franchise. The characters of Zhendong and Xiaohai, who were so integral in their previous respective “Pegasus” movies, are somewhat sidelined in “Pegasus 3.” The competing racers from the other countries are vague and hollow characters.
And it’s a noticeable exclusion that “Pegasus 3” has a lack of female characters with speaking roles. At least the first “Pegasus” movie had Yuqiang’s wife in a supporting role. “Pegasus 2” and “Pegasus 3” don’t have any women as characters who are part of the story. In the real world, women might be a minority in professional car racing, but they exist in various roles.
“Pegasus 3” has flaws, but they’re not enough to ruin this movie. The “Pegasus” franchise is escapist entertainment but the franchise needs to come up with more credible and original ideas, in order for this franchise to not turn into a ridiculous parody of itself. There’s nothing inherently wrong with having many of the same characters in each movie. But in a sport like car racing, it’s only a matter of time when the original main characters need to realistically retire and make way for the next generation.
CMC Pictures released “Pegasus 3” in select U.S. cinemas on February 23, 2026. The movie was released in China on February 17, 2026.


















