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Photo: Scott Heins/Getty Images

Enjoying a boom with so many gyms closed, Peloton "is preparing to launch a cheaper treadmill and a new high-end bike," Bloomberg reports.

The state of play: The new treadmill will be called 'Tread" and will cost less than $3,000, compared to $4,295 for the current model. It will be smaller and have a cheaper belt design. Peloton is also releasing Bike+, a premium stationary bike that will cost more than the current $2,245 version, which will have a price drop to $1,900.

Yes, but: The pandemic has impacted the company's ability to manufacture its new products and forced it to pause deliveries across most of the U.S.

  • Peloton CEO John Foley said the coronavirus has forced the company to rethink how it launches products and releasing a cheaper treadmill is a priority.

Go deeper

Sep 15, 2020 - Sports

COVID-19 brings boom for bicycles

Illustration: Aïda Amer/Axios

A cycling boom has materialized as a result of the pandemic, with people around the globe taking part in the two-wheel revolution at unprecedented levels.

Why it matters: This has not only been a boon to the biking industry, but it also has the chance to permanently alter cities as bike-friendly changes to urban infrastructure got fast-tracked when the pandemic refused to relent.

Updated 51 mins ago - World

Mexican President López Obrador tests positive for coronavirus

Mexico's President Andrés Manuel López Obrador during a press conference at National Palace in Mexico City, Mexico, on Wednesday. Photo: Ismael Rosas/Eyepix Group/Barcroft Media via Getty Images

Mexican President Andrés Manuel López Obrador announced Sunday evening that he's tested positive for COVID-19.

Driving the news: López Obrador tweeted that he has mild symptoms and is receiving medical treatment. "As always, I am optimistic," he added. "We will all move forward."

Sarah Huckabee Sanders to run for governor of Arkansas

Sarah Huckabee Sanders at FOX News' studios in New York City in 2019. Photo: Steven Ferdman/Getty Images

Former White House press secretary Sarah Huckabee Sanders will announce Monday that she's running for governor of Arkansas.

The big picture: Sanders was touted as a contender after it was announced she was leaving the Trump administration in June 2019. Then-President Trump tweeted he hoped she would run for governor, adding "she would be fantastic." Sanders is "seen as leader in the polls" in the Republican state, notes the Washington Post's Josh Dawsey, who first reported the news.