Peloton is planning a new $400 million factory in Ohio
Peloton has announced plans to invest $400 million in a US factory to produce its connected bikes and treadmills, located in Troy Township, Ohio — about half an hour south of Toledo. The facility, which is planned to be approximately a million square feet, is called the Peloton Output Park. Peloton hopes it will eventually lead to lower prices for its products, though its CEO John Foley admits that could take a few years to happen.
Currently, Peloton mainly manufactures its fitness equipment in Taiwan, while many of its customers are in the US. This caused expensive shipping delays earlier this year as the company ran into both heightened demand and long shipping times resulting from the pandemic. The company’s factory announcement is…