The Kinetic Energy Recovery System will be introduced in Formula One next year, and Ferrari are playing catch-up with its development in order to have it ready for the start of the season.
FIA president Max Mosley has defended the introduction of the system, as he reckons it will be a serious engineering challenge for the teams.
Di Montezemolo, however, says using the system now is a mistake, as he believes it needs more time to be worked on.
"It's not possible in one night to do everything. It's a process. Year on year. The KERS is a mistake," said di Montezemolo. "Whatever we discover there is nothing in common between F1's KERS and road car KERS.
"But for 2012 KERS can be an important part of a new package that addresses properly the environmental concerns. KERS is the biggest part of F1 spending for 2009.
"I'm not against the principle of KERS - it's very important to put in front of the teams research that benefits the environment - but the way it is at the moment is a mistake. It has to be a package looking ahead and we have three or four years to work on the whole engine/KERS package."
The Italian was again critical of races like the Singapore Grand Prix, which he reckons take place at the wrong kind of circuits to offer a good show.
"Having two or three Monte Carlos is too much," he added. "Next time we can race inside the Coliseum, or maybe inside the Papacy. This is not racing.
"I don't think we need more boats, historic skylines. I think we need more race tracks where it's possible to overtake, where the public can enjoy the competition, not a place where a crash like Piquet had can destroy the whole race. One of the problems F1 is facing, is we need to improve competition, so that the racing is good not only when it rains or the safety car creates a situation.
"If we look at the last 10 years we change many times the technical and sporting rules. Sometimes it's important to change, even if just to start the competition again from a blank page.
"But it's like asking a football player to play in the rain with just training shoes, so he slips all over the course. It's artificial. I think we need the tech rules to improve he possibility to overtake.
"New tracks, with good opportunities for overtaking. Real tracks, not touristic tracks. At least Monte Carlo has history. Having two or three of them is too much."
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