Amazon has removed Echelon's $499 'Ex-Prime' fitness bike from sale, just a few hours after its release.
Amazon spoke to news sources yesterday evening, including FOX Business and Forbes, telling them, “This bike is not an Amazon product or related to Amazon Prime. Echelon does not have a formal partnership with Amazon. We are working with Echelon to clarify this in its communications, stop the sale of the product, and change the product branding.”
Echelon's press announcement, which detailed the bike as having been "developed in collaboration with Amazon" has now, like the bike itself, been removed.
The release of the 'Ex-Prime Bike' created quite a stir. It came with an eye-catching price tag but shared characteristics with Peloton's model, which retails at $1900 in the US, or £1750 in the UK. Both bikes share a similar aesthetic, and use a magnetic resistance system, with adjustable resistance levels.
The market took notice too. Peloton's stock price dropped upon the news of the Echelon bike but is now, at the time of writing, recovering. FOX Business reported Wednesday morning that the share price had risen 1.7% to $96. Its shares had risen 200% during the Covid pandemic as people look for ways to exercise indoors.
Echelon also sold the bike through Walmart, albeit with slightly different branding. Currently, the bike dubbed as the 'Echelon Connect Sport' is still listed but is sold out.
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