admin Echelon declared the EX-Prime Smart Connect Bike earlier this week and informed it was developed “in collaboration with Amazon.” The machine was listed on Amazon’s website for $500, a steep discount to machines offered by Peloton Interactive Inc.
“This bike is not an Amazon product or related to Amazon Prime,” an Amazon spokeswoman informed in an email late Tuesday. “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.”
Amazon’s Prime subscription provides free shipping and other benefits for an annual fee. Products connected with the program often get a sales boost.
Echelon didn’t instantly respond to a request for comment. Though, the company’s original press release declaring the bike was no longer available online and the product was also listed as “currently unavailable.
Shares of Peloton fell as much as 6.7% early Tuesday but the stock recovered to be down less than 1% at the close in New York.
“Other than a few cosmetic changes, the $500 bike is almost identical to Echelon’s $500 bike at Walmart.com, which has been available at Walmart.com since March and hasn’t had any noticeable impact to Peloton’s growth,” KeyBanc Capital Markets analyst Edward Yruma stated in a note to investors.
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