A multi-speed power transmission device includes an input shaft, first and second output shafts and a planetary gearset. An axially moveable sleeve fixes the first output shaft and the input shaft for rotation when in a first position and the sleeve fixes the sun gear and the input shaft for rotation when in a second position. A hub is axially moveable and free to rotate relative to the first output shaft when in the first position. The hub is fixed for rotation with the first output shaft when in the second position. A cam plate is continuously fixed for rotation with the carrier and urges the hub toward its second position when in a second axial position. The input shaft drives the first output shaft at a reduced speed via the planetary gearset when the sleeve, hub and cam plate are at their second positions.