Fun projects and pretty good work environment
Pros
The projects at Tesla are fun to work on. Project timelines are very fast paced which means limited work life balance but the kind of person hired at Tesla wont see this as a con. Due to long working hours and stressful environment, your coworkers are more like family. It's run more like a start-up then a huge corporation. This means projects go from prototype to production quickly which can be stressful.
Cons
Long-term company stability is a real issue. There have been 2 rounds of layoffs the past year and have affected mostly full-time employees and a lot of engineers. Due to this, moral is in decline. On most teams, engineer employee turnover is relatively low as compared to most of bay area. Management turnover on the other hand is really high. Pay is also a low for bay area especially due to low stock price.