On Tuesday, Peloton announces that it is set to relaunch its lower cost treadmill in the U.S., the U.K. and Canada. The Tread as well as the Tread+ had been recalled it early May, as there was safety concerns. The redesigned Tread will be introduced once again at a cost of $2,495. There will also be a $39 charge per month for live classes as well as Peloton’s workout programs. The company has not announced when it will relaunch the Tread+.
According to the company the Tread has the following safety features:
- Before beginning a workout users have to enter a four digit passcode to unlock the belt.
- There is a removable safety key if a user has to stop quickly when a workout is in progress.
- The speed and incline knobs are featured on the side rails of the equipment to align with a runner’s natural arm swing for easy access.
- The touchscreen can be tilted up and down to ensure smooth transition from a run to a workout on the floor.
The Tread had been recalled as its touchscreen could get detached and fall, which posed a safety risk. About 1000 machines were sold during a pre-launch promotion. The company has told existing owners of the Tread that they can get their machines repaired. The website will fix in-home appointments for owners to get the touchscreen fixed, so it will no longer be a safety hazard.
The Consumer Product Safety Commission has approved of the repair. Owners can use the machines after the fix. The new Tread machines are expected to be launched on August 30 and include the repair.
The company is scheduled to report its fourth-quarter earnings results on Thursday after the market closes. The company has seen its share price fall by approximately 29 percent to date, this year. It has a market cap of $31.8 billion.
Credit image Peloton