Peloton to exit in-house manufacturing of its bike, tread products

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Shares of Peloton were down 1.8% premarket after the company said Taiwan-based Rexon Industrial Corp will become the primary manufacturer of the hardware for Peloton’s bike and tread product lines.

Peloton will be suspending operations at its Tonic Fitness Technology Inc facility through the remainder of 2022, the company said.