Peloton announces first factory in the US
The $400 million facility is scheduled to open in 2023.
- Added coconut oil to cheap coffee before keto made it cool.
On Monday, fitness equipment maker Peloton announced it will open its first dedicated factory in the US. The Peloton Output Park -- "the POP," for short -- will manufacture the Peloton Bike, Bike Plus and Tread products.
The factory, set to be functional by 2023, will be built in Troy Township in Wood County, Ohio. The new factory will sit on over 200 acres of land, provide around 2,000 jobs to the region and use renewable energy sources, according to a press release.
"The pandemic has demonstrated the need to on-shore manufacturing and rebuild supply chains, and Peloton's decision to build its first North American manufacturing facility in Ohio is a great example of an American company stepping up and leading that effort," said Ohio Governor Mike DeWine.
Peloton's announcement about the new factory came a few weeks after the company's recall of its Tread and Tread Plus treadmills, which caused about 70 accidents, including the death of a child.
Worldwide, Peloton has more than 5.4 million members. In its press release, Peloton CEO and co-founder John Foley said the company "will continue to invest in our Asian manufacturing footprint as well as our existing facilities in the U.S. via our Precor sites" in order to meet growing demand.