Government ownership of car manufacturing plants has a pretty chequered history.
British Leyland (rover, triumph, Austin Morris ) Fiat, Lada! all have ended in tears, too inefficient and lacking funds for development of new products. Others include bricklin, and delorean who gouged huge sums out of Canadian and American state governments before going belly up.
You would quickly find that the finished product would be out dated, kind of like what Holden and ford and valiant produced in the 70's before they were dragged into manufacturing more efficient, safe and well handling vehicles.
The horse has bolted sadly.