That component is a capacitor and not a battery, The battery is locate on the back portion of the bike frame, tilt the bike to its side you'll notice a plate remove the 4 screws flip the plate over. On that plate is the battery it has 2 leads red ( + ) and black ( - ) leave them on until you purchase the new battery. After receiving the Battery their is 2 screw that attach the battery to the plate and replace with new battery reverse procedure to install.
You may purchase this item from National Gym Supply Part # LC001.5
cost $19.80 tax and s/h Call them @ 1-800-496-7278
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