Amazon denies working with Echelon on 'Prime Bike'

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Just hours after connected exercise equipment maker Echelon said it teamed up with Amazon for the "Prime Bike," the Jeff Bezos-led company has denied any affiliation with the product.

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“This bike is not an Amazon product or related to Amazon Prime," an Amazon spokesperson told FOX Business 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.”

The press release that mentioned the product has been deleted and the product listing has been removed from Amazon's website.

TickerSecurityLastChangeChange %
AMZNAMAZON.COM INC.3,128.99+168.52+5.69%
PTONPELOTON INTERACTIVE94.39-0.41-0.43%

AMAZON, STEPHEN CURRY JOIN TONAL HOME FITNESS BRAND'S $110M FUNDING ROUND

FOX Business has reached out to Echelon with a request for comment.

It's unclear what happened with the partnership, especially in light of the implications it had for other companies in the connected exercise equipment market, notably Peloton.

Shares of Peloton closed slightly lower Tuesday following the news but were moving higher in premarket trading Wednesday, gaining 1.7% to $96.

Earlier this month, Peloton announced a cheaper treadmill, known as Tread+, as well as a new version of its stationary bike, Bike+.

The original Peloton Bike also received a price cut, now retailing for $1,895. Subscriptions to all Peloton equipment cost an additional $39 per month.

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Peloton CEO John Foley recently told FOX Business the company could have 100 million subscribers sometime in the future.

Earlier this month, Amazon's Alexa Fund, along with NBA superstar Stephen Curry, invested in upstart home fitness brand Tonal's $110 million funding round.

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