Ferrari chief Montezemolo speculates his team could pull out of Formula One

(CNN) -- Ferrari chairman Luca Di Montezemolo has speculated that his famous marque could withdraw from Formula One and compete in other categories of motorsport.

Di Montezemolo is unhappy with technological changes in F1 which have shifted the emphasis away from traditional car and engine research and design to areas such as aerodynamics.

"If Formula 1 is not any more an extreme technology competition, where the technology can be transferred to the road car, maybe we can see Formula 1 without Ferrari," he told CNN in a wide-ranging interview.

"Even if F1 without Ferrari anymore is not F1. In this case -- in a theoretical case -- we will do something else," added Di Montezemolo.

"But we will never see Ferrari without competition and sporting challenges."

Ferrari president: F1 too expensive

The 65-year-old Di Montezemolo also warned earlier this year in an interview with CNN that costs were an issue, "we are spending to much," he said.

He has not placed a time frame on any potential pull out, "it will depend on the rules" but is dismayed about rumors of electric cars being introduced into F1 because of environmental concerns.

"This is a joke because this is not Formula One," he said.

Di Montezemolo has been at the helm of Ferrari since 1991, presiding over their most successful period both in terms of racing, but also commercially, with the company reporting strong profits even in the economic downturn.

But with his business acumen, he has mixed feelings about proposals to float F1 on Asian stock markets.

"It means stability, it means mainly transparency in business, so I think this could be a good idea," he said.

"On the other hand, the importance of the teams is crucial because at the end of the day, we are the actors, we are the players, and without the players you don't have the game."

Ferrari go into the 13th round of the championship on their home track at Monza with Fernando Alonso leading the title race by 24 points, despite being caught up in the first corner carnage at Spa last Sunday.

But his number two Felipe Massa has struggled to make an impression and his future at Ferrari is in some doubt.

Di Montezemolo could give no guarantees about the team's driver line-up for next season.

"He (Massa) has to get good results, but Felipe has been and still is an important driver for Ferrari.

"We will see, but I think we have to look to the future and we need two very competitive drivers," he added.