Tacx NEO Bike Trainer

Tacx has developed a solution for fielded units - on Monday, July 15, 2024, Tacx made available to the field new software for the bike that significantly reduces the risk of occurrence of scenarios that could cause the overheating of the Power Supply Board (the “Software Update”). The Software Update monitors the power supply for an abnormal state, and, if such a condition is detected, then the Software Update will cause the bike to enter standalone mode, meaning that external power would no longer be applied to the bike, even if the bike is connected to external power. As a result, the power supply board/resistor would not have an opportunity to overheat - based on the testing that Tacx has conducted, once the Software Update has been implemented, the risk is fully mitigated in the field when the bike’s power supply is disconnected, and users operate the bike in standalone mode. In conjunction with the release of the Software Update, Tacx will also distribute communications directly to end-customers and retailers/distributors, and the customer communication instructs customers how to download and install the Software Update and also directs them to use the bike in standalone mode until Tacx provides furtherinformation. Tacx is confident that it can directly contact the vast majority of bike end customers by leveraging its warranty registration records and records available through the Tacx App, the bike’s companion smartphone application - the retailer/distributor communication will instruct retailers/distributors to stop selling the bikes in their possession and to await further instructions from Tacx concerning their inventory. No further bikes will be imported into New Zealand with this potential issue, and Tacx believes the Software Update will be more effective and will have a higher adoption rate than a physical recall. Customers will be able to download the Software Update as it is a straightforward process that will not be difficult for applicable customers to download.