Peloton Tread Set to Launch with New Safety Features
Aug 24, 2021 By MarketDepth
Peloton (NASDAQ: PTON) announced it is set to introduce a more affordable version of its treadmill within the United States next week. The move comes after both its Tread and Tread+ machines were recalled this year following various reported injuries and the death of a child.
Treadmill Recall After Injuries
After some resistance, Peloton agreed to the recall of the Tread+ after, “a six-year-old child recently died after being pulled under the rear of the treadmill. In addition, Peloton has received 72 reports of adult users, children, pets and/or objects being pulled under the rear of the treadmill, including 29 reports of injuries to children such as second- and third-degree abrasions, broken bones, and lacerations.”
Available Starting Monday
The redesigned Tread machine will be priced at USD2,495 and will be available on Monday in the U.S., Canada and the U.K.
“We’ve worked hard to make sure the new Tread truly earns its spot in members’ homes. We’ll always continue to innovate our hardware, software and safety features to live up to our commitment to member safety and to improving the full member experience.”Chief Executive John Foley
The repaired Tread features a four-digit passcode lock, which is required to unlock the belt prior to a workout. Furthermore, there is now a removable safety key in place in case the user needs to activate an emergency stop during their workout.
The company has yet to reveal when the Tread+ will also be available for sale.
Shares Nose Dive YTD
Peloton shares have fallen 29% year to date and has a current market cap of USD31.8 Billion.