I have said from the very beginning that Tesla’s 100% ownership of their Chinese facilities will not last. China is most likely looking at this as a cheap technology transfer opportunity. Once China decides that they derived the maximum benefit, they will simply absorb Tesla China and I can’t think of anyone willing or able to argue with them.

The Tesla guys are not super dumb and China nationalizing the plant is the first thing you think of. When asked about it, Elon said "The only thing you can do is keep ahead of the reverse engineering your competitors are doing. They are not going to kill us if there is still important tech that they need to steal." In other words, you are right that as soon as the Chinese have stolen all the technology they will kill Tesla and nationalize the plant. However, if you have a real strong R&D department that day never comes. Suppose you are the Chinese government, You look at Tesla and you have to say "Let's not kill him just yet, because:" 1) We have not copied the die casters technology even though we own the company because of all the metallurgy and fine tuning involved. 2) We don't yet fully understand the upcoming CyberTruck or the semi truck technology. 3) We really don't understand the technology behind the chips Tesla makes. 4) Uh-Oh, they just started the TeslaBot......