Peloton Interactive Inc. is preparing to launch a cheaper treadmill and a new high-end bike, while cutting the price of its existing bike to stoke demand as many gyms remain closed, according to people familiar with the matter.
The new treadmill, called Tread, will cost less than $3,000, compared with $4,295 for the current model. It will also be smaller and have a cheaper belt design like most other treadmills on the market versus the current model’s slat design. The existing Peloton treadmill will continue to be sold as the company’s high-end offering and will be renamed the “Tread+,” the people said. They asked not to be identified discussing private product plans.