Ferrari president 'doesn't believe in' electric cars

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President Obama has often pushed electric cars and alternative fuel types as a way to create jobs in the stagnant U.S. economy.

He visited an advanced battery facility in Holland, Mich., last week, saying workers there were "building high-tech batteries so that we lead the world in manufacturing the best cars and the best trucks.

"Look what’s happening in Holland, Michigan," Obama said. "Every day, hundreds of people are going to work on the technologies that are helping us to fight our way out of this recession." 

Montezemolo did not rule out hybrid cars, which have been popular for automakers like Ford and Toyota in recent years and have been spoken favorably of by Obama.

"We are working very, very hard on the hybrid Ferrari," Montezemolo said. "This should be the future, and I hope in a couple of years you can see it."