Peloton is accused of using a chemical solution to cover up rust on its exercise bikes

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…