Rising inflation, higher material costs, and now the potential for a recession in the U.S. (and likely in other countries) are all weighing on Nio's, Rivian's, and ChargePoint's share prices. As a result, Nio (NYSE: NIO) was down by 9%, Rivian Automotive (NASDAQ: RIVN) fell by as much as 3.4% before bouncing back up by 0.1%, and ChargePoint Holdings (NYSE: CHPT) dropped 3.8% as of 11:49 a.m. While Nio's share price got a boost earlier this week after China's president said the country will invest in new technologies, China is dealing with its own economic slowdown right now.