Chrysler PowerFlite transmission Chrysler PowerFlite transmission PowerFlite is a two-speed automatic transmission engineered and produced by the Chrysler Corporation and used in their passenger cars from 1954 to 1961. Production began in late 1953; despite the launch of Chrysler's three-speed TorqueFlite automatic in 1956, the simple and durable PowerFlite remained available on Plymouths and Dodges through the 1961 model year, after which it was discontinued. Chrysler was the last of Detroit's Big Three automakers to introduce a fully automatic transmission, some 14 years after General Motors had introduced Oldsmobile's Hydramatic automatic transmission and nearly three years after Ford's Ford-O-Matic. Packard's Ultramatic debuted in
Chrysler Australia its class. In 1979 Mitsubishi Motors Corporation and Mitsubishi Corporation each acquired a one sixth equity in Chrysler Australia and in April 1980 the two companies purchased the remaining shares in the company from the US Chrysler Corporation. The company name was changed to Mitsubishi Motors Australia Limited on 1 October 1980. Mitsubishi continued to build the Valiant models with Chrysler badging until August 1981 and production of the Sigma range continued under the Mitsubishi name until 1987. Colt, Magna, Verada and 380 models were subsequently produced before production of passenger vehicles was discontinued in March 2008. The company continues