Performance Enhancement Pathways for Electric Vehicle Manufacturing Companies Driven by Digital Transformation—A Configuration Analysis Based on the TOE Framework

Digital transformation has brought unprecedented transformation and opportunities in manufacturing enterprises. Focusing on 65 listed companies in the electric vehicle sector as the research objects and drawing on the “Technology–Organization–Environment” (TOE) framework, this study selects three dimensions—technology, organization, and environment—and six antecedent conditions. Using fsQCA configurational analysis, this research explores diverse paths to improving corporate performance, identifying five pathways. Among these, digital transformation and operational efficiency consistently serve as pivotal bridging conditions across multiple configurations. Furthermore, when enterprises demonstrate strong capabilities in both the technological and organizational dimensions, other conditions tend to act as substitutes, interacting synergistically with these core strengths to enhance overall firm performance. This study organically combines the TOE framework and fsQCA, deepening the application of the TOE theory in the field of electric vehicle manufacturing enterprises. Additionally, based on the configurational paths derived from the research, it provides differentiated countermeasure suggestions for electric vehicle manufacturing enterprises, offering practical guidance for enhancing their performance in the context of digital transformation.