Recalled Peloton treadmills get US regulator approval for repair

(Reuters) - The U.S. Consumer Product Safety Commission (CPSC) on Thursday approved a repair for a rear guard of Peloton Interactive Inc's recalled 'Tread+' treadmill.

The fitness equipment maker had announced a costly recall of its 'Tread+' treadmill in 2021 following the reports of multiple injuries and the death of a child in an accident.

Shares of Peloton were up 3.1% at $7.4 in morning trading.

Peloton's Tread+ is a "slat-belt" treadmill that needs a higher torque motor and ground clearance than a typical home treadmill, making them a risk for children and pets.

"The approved rear guard repair eliminates the potential for entrapment near the rear roller of the treadmill," the safety regulator said in a statement.

"The rear guard repair features a breakaway design that pivots away from the treadmill when it comes into contact with a person or object, shutting off power to the unit and decelerating the belt."

To date, in addition to the reported death, Peloton has received a total of 351 incident reports of pull-unders, including 90 reports of injuries to consumers, according to the CPSC.

Peloton will offer the guard free of charge to all members who own a 'Tread+', the virtual workout company said in a statement on its website.

(Reporting by Kannaki Deka in Bengaluru; Editing by Shweta Agarwal)