Bentley Motors' model line-up will include only plug-in hybrids and electric cars by 2026 and will be fully electric by 2030, the British luxury carmaker said on Thursday, as the auto industry adapts to tighter emissions limits in Europe and China.

The 100-year-old company, owned by Germany's Volkswagen , said it would launch two plug-in hybrids next year as part of its "Beyond100" strategy to accelerate the development of electrified models.

Last week, Volkswagen announced a return to profit for the third quarter thanks to surging demand for luxury cars.

"Within a decade, Bentley will transform from a 100 year old luxury car company to a new, sustainable, wholly ethical role model for luxury," Bentley Chief Executive Officer Adrian Hallmark said in a statement.

In the summer, Bentley said it would cut up to 1,000 jobs, or nearly a quarter of its workforce, as the Crewe, northwest England-based company shifts towards an electric model line-up.

A draft document in September showed the European Commission wants to further tighten auto emissions limits, prompting a push-back from Germany's car industry, Europe's biggest.