Peloton PTON Announces Safety Protection for the Tread+ Treadmill
Maggie Lu uses a Peloton Tread+ treadmill during CES 2018 at the Las Vegas Convention Center, January 11, 2018.
Ethan Miller | Getty Images
peloton announced on Thursday that it would release a rear safety guard for its Tread+ treadmill in partnership with the U.S. Consumer Product Safety Commission.
The stock closed nearly 3% higher on Thursday.
The Tread+ treadmill has been at the center of the safety concerns surrounding Peloton for the past several years. The treadmill was discontinued due to the death of a young child on a Tread+ treadmill in 2021.
Since the recall, 279 additional incidents and 61 injuries have been reported, the Peloton and CPSC said in a joint statement.
The safety protection will be offered free of charge to owners of a Tread+ treadmill, the company said in a press release.
Customers can pre-register to receive the guard. It’s still in production and is expected to be available in the fall.
Following the 2021 recall, Peloton asked owners of Tread+ treadmills to stop using the product.
The new guard features a breakaway design that moves away from the treadmill when it touches an object, shutting off power and slowing the belt. The goal is to eliminate the risk of entrapment near the back of the treadmill, which has been the main cause of incidents in the past.
“As a brand dedicated to supporting members on their fitness journey, Peloton remains committed to ensuring they have access to our world-class fitness experiences in the safest possible way,” the company said.
In addition to the issues with the Tread+ treadmill, other safety concerns have plagued Peloton in recent years.
Amid growing concerns, the company changed its stance on recalls in recent weeks.
When the CPSC recalled 2.2 million Peloton bikes over safety concerns last week, Peloton cooperated, saying it was “important to proactively engage the CPSC to address this issue and work quickly and collaboratively to find a resolution.”
According to an internal Peloton memo, a parts failure on model number PL01 bikes resulted in 12 reported injuries, including a broken wrist.
Previously, the company was hesitant to work with the authorities and expressed disagreement about possible shortcomings. Peloton said it took action despite the relatively small number of motorcycles affected because it is a “members-first company,” according to the internal memo.
Earlier this month, the company posted a bigger-than-expected loss for the fiscal third quarter while forecasting its first decline in subscribers.
https://www.cnbc.com/2023/05/18/peloton-pton-announces-safety-guard-for-tread-treadmill.html Peloton PTON Announces Safety Protection for the Tread+ Treadmill