Fiat could increase its share in Chrysler to up to 50%, according to its CEO Sergio Marchionne.

"I don't know whether it is likely, but it is possible that we will go over 50% if Chrysler decides to go to the market in 2011," Marchionne said, according to the Financial Times.

A merger between the two companies was not under consideration, he stressed.

Marchionne made the comments at an event to mark the first day of trading for the newly demerged Fiat, which split its car companies from its other industrial businesses.

"The demerger of the group and the creation of two separate entities will finally solve a strategic issue that has for years been a thorn in the side of Fiat," Marchionne said when the split was first announced.

Fiat took a 20% share in Chrysler in 2009 when the US carmaker went into Chapter 11 bankruptcy protection.