Integrating Corporate Social Responsibility into Corporate Financial Strategy: A Triple Bottom Line Approach in the Electric Vehicle Industry

This study investigates the integration of Corporate Social Responsibility (CSR) into the Corporate Financial Strategy (CFS) of Electric Vehicle (EV) manufacturers to enhance financial performance. The study employs a mixed-method approach, combining quantitative analysis of financial metrics from annual reports with qualitative thematic analysis of documentation and none-financial reports. Findings indicate that investing in renewable-based EV charging stations emerges as a pivotal strategy for integrating CSR into CFS effectively. This approach not only supports sustainable urban development and reduces carbon footprints but also fosters job creation and enhances consumer confidence in EV adoption. The study contributes to knowledge by delineating effective CSR-CFS integration strategies that can guide policy development to promote sustainable mobility and environmental stewardship in the automotive sector. Additionally, the results show that if the CFS is robust, the increase in production and development of EVs as part of corporate responsibility initiatives leads to higher profits. Although the correlation between unit production and return is slightly weak, it remains positive, highlighting that unit production significantly impacts return. This alignment of CSR and CFS in the EV sector demonstrates that strategic production increases contribute to profitability. Furthermore, the findings suggest that higher production levels influence the financial position of companies. While the correlation between unit production and financial health is not exceptionally strong, it is still significant. This implies that although CFS does not drastically improve profitability and financial health on its own, the integration of CSR with increased production positively impacts the overall financial performance of EV manufacturers.