It's a distinction without a difference. Musk is effectively an agent of the state, with billions in subsidies he wants to protect, and a Chinese auto market he is desperate to be allowed into.
The CCP would not miss out on taking advantage of the situation and demanding trade concessions for agreeing to sell. US government would absolutely be involved in raising the necessary finance, as banks won't be bending over backwards to lend Musk money for another speculative venture.
