Executives at Peloton allegedly hatched a plan to conceal rust and corrosion on their high-end bikes with a chemical solution just months after a costly recall of the company’s treadmills left the company in crisis last year.
The company allegedly began using a chemical solution that disguised corrosion on the bikes by ‘reacting with the rust to form a black layer’ after staff noticed that paint was flaking off some of the machines last year, according to the Financial Times.
In a plan, dubbed internally as ‘Project Tinman’, staff concealed the corrosion before reportedly sending them to customers.
It came after stock prices for the company began to drop and the company saw a reduction in demand for production just months after Peloton recalled treadmills in the US and UK after the…
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