To try to turn around its failing company, exercise technology provider Peloton will outsource manufacturing to a Taiwainese company

✔ Fact Checked by TDPel News Desk

By Lola Smith

Published: July 12, 2022 | 12:13 PM

To try to turn around its failing company, exercise technology provider Peloton will outsource manufacturing to a Taiwainese company.

Rexon will produce the company’s bikes and treadmills, the company has said in an effort to streamline operations and lower expenses for the struggling company.

In the past year, Peloton’s stock price has dropped by an astounding 92%.

The company has seen numerous controversies, which have reduced its value from roughly $120 in July of last year to just $9 today.

Andrew Rendich, the chief supply chain officer at Peloton, stated in an interview with Bloomberg News.

We are returning to partnership production alone, he declared. According to capacity and demand, it enables us to ramp up and ramp down.

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About Lola Smith

Lola Smith is a highly experienced writer and journalist with over 25 years of experience in the field. Her special interest lies in journalistic writeups, where she can utilize her skills and knowledge to bring important stories to the public eye. Lola’s dedication to her craft is unparalleled, and she writes with passion and precision, ensuring that her articles are informative, engaging, and thought-provoking. She lives in New York, USA.