NEW YORK, May 24, 2021 /PRNewswire/ --Peloton Interactive, Inc. (Nasdaq: PTON) today announced plans to build its first U.S. factory. After a rigorous choice process, Peloton selected Troy Township in Wood County, Ohio for the site of Peloton Output Park (POP), a state-of-the art factory that volition be dedicated to producing Peloton'due south award-winning Peloton Bike, Bike+ and Peloton Tread starting in 2023. Peloton expects to pause ground on the site later this summertime. Throughout the multi-year development, Peloton will commit approximately $400 one thousand thousand to the facility.
"Nosotros are thrilled to bring a good portion of our manufacturing to Usa soil and proud that information technology will be in the dandy state of Ohio," said Peloton'due south CEO and co-founder John Foley. "While we will go along to invest in our Asian manufacturing footprint every bit well as our existing facilities in the U.S. via our Precor sites, the new Peloton Output Park gives us a massive strategic lever to make certain nosotros have capacity, quality, and economies of scale in our bike and tread production lines, to support our continued growth for years and years to come. We are incredibly excited to run into and welcome the Troy Township community into the Peloton family fold."
Investing in American manufacturing
Peloton Output Park is expected to sit on over 200 acres and have more than one million foursquare feet of manufacturing, part, and amenities space, making it 1 of the largest connected fettle manufacturing plants in the world. The facility volition be congenital from the footing upward in the center of Troy Township and firm the latest in industrial engineering and automation to make products more efficiently and to ensure quality unit of measurement assembly. On campus, Peloton plans to contain renewable energy sources to power its operations.
"The pandemic has demonstrated the need to on-shore manufacturing and rebuild supply bondage, and Peloton's conclusion to build its first North American manufacturing facility in Ohio is a great example of an American company stepping up and leading that attempt," said Ohio Governor Mike DeWine. "Ohio is excited to partner with Peloton'south forrad-looking leadership team in developing a new, state-of-the-art facility using connective applied science, and creating 2,174 new manufacturing jobs in Wood Canton."
Peloton Output Park will exist the latest addition to the company's growing global manufacturing network that includes third-party partners in Asia and Peloton's ain facilities. Peloton will have more than than ane and a one-half million square feet of owned and leased manufacturing space but in the United states, including the Precor facilities in N Carolina and Washington land.
Growing the Peloton team and community
Over the adjacent few years, Peloton expects to add over 2,000 jobs to the Troy Township area beyond executive, managerial, and entry-level opportunities. Positions volition span corporate, manufacturing, assembly and quality balls functions.
In improver to the active manufacturing floor, Peloton has plans to build aplenty part infinite for new team members including a fitness eye with the latest continued fitness equipment and a team lounge with enough of room to interact.
Peloton Output Park will also be open to the Troy Township and larger Midwest community. The company plans to host facility tours and open an on-site exhibit. Customers will too have the option to check-out Peloton products beginning-mitt.
Looking forward
Peloton'due south site option in Troy Township is contingent upon concluding approvals from state and local officials. The visitor is working closely with community leaders, such as JobsOhio, the Ohio Development Services Agency and the Regional Growth Partnership, to bring the projection to Wood County and brand certain this new location complements the existing Troy Township community.
About Peloton
Peloton is the leading interactive fitness platform in the world with a loyal customs of more than 5.4 million Members. The company pioneered continued, engineering science-enabled fitness, and the streaming of immersive, teacher-led boutique classes for its Members anytime, anywhere. Peloton makes fitness entertaining, approachable, effective, and user-friendly, while fostering social connections that encourage its Members to be the all-time versions of themselves. An innovator at the nexus of fettle, technology, and media, Peloton has reinvented the fitness manufacture by developing a get-go-of-its-kind subscription platform that seamlessly combines the all-time equipment, proprietary networked software, and world-class streaming digital fitness and health content, creating a production that its Members love. The brand'due south immersive content is attainable through the Peloton Bike, Peloton Tread, Peloton Cycle+, Peloton Tread+, and Peloton App, which allows access to a full slate of fitness classes across disciplines, on whatever iOS or Android device, Apple Tv, Fire Idiot box, Roku TVs, and Chromecast and Android Tv set. Founded in 2012 and headquartered in New York City, Peloton has a growing number of retail showrooms across the US, United kingdom of great britain and northern ireland, Canada and Frg. For more information, visit www.onepeloton.com.
Forward Looking Statement
This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Human activity of 1933, every bit amended, and Department 21E of the Securities Exchange Human activity of 1934, as amended, which involve risks and uncertainties. These forward-looking statements include, but are not limited to, statements related to the toll and expected benefits of the Peloton Output Park, including but not limited to, the continued growth and quality of our manufacturing capabilities, the building and utilize of renewable energy sources at the manufacturing plant, and the number of employment opportunities; statements regarding the predictable timing of producing connected fitness products at the manufacturing plant; and any other statements of expectation or conventionalities; and whatsoever statements of assumptions underlying whatsoever of the foregoing. You can identify these statements by the apply of terminology such equally "believe", "plans", "await", "will", "should," "could", "estimate", "anticipate" or similar forward-looking terms. You should not rely on these forward-looking statements equally they involve risks and uncertainties that may cause bodily results to vary materially from the frontwards-looking statements. For more than data regarding the risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements, likewise as risks relating to our business in general, we refer you lot to the "Risk Factors" section of our Securities and Exchange Committee (SEC) filings, including our most recent Form 10-K and ten-Q, which are available on the Investor Relations page of our website at https://investor.onepeloton.com/investor-relations and on the SEC website at www.sec.gov.
All frontward-looking statements contained herein are based on data bachelor to united states of america as of the date hereof and you should non rely upon forward-looking statements as predictions of hereafter events. The events and circumstances reflected in the forward-looking statements may non be accomplished or occur. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, operation, or achievements. We undertake no obligation to update any of these forward-looking statements for any reason after the date of this printing release or to conform these statements to actual results or revised expectations, except every bit required by law. Undue reliance should non exist placed on forward-looking statements.
Media contact:
Amelise Lane
press@onepeloton.com
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SOURCE Peloton
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