diff --git a/docs/generated/packages/vite/generators/vitest.json b/docs/generated/packages/vite/generators/vitest.json
index a4d5b38584f736..f9b72140e3a37e 100644
--- a/docs/generated/packages/vite/generators/vitest.json
+++ b/docs/generated/packages/vite/generators/vitest.json
@@ -32,8 +32,8 @@
       },
       "coverageProvider": {
         "type": "string",
-        "enum": ["c8", "istanbul"],
-        "default": "c8",
+        "enum": ["v8", "c8", "istanbul"],
+        "default": "v8",
         "description": "Coverage provider to use."
       },
       "testTarget": {
diff --git a/packages/vite/migrations.json b/packages/vite/migrations.json
index b86d5bfcdee8bc..94ec6de19bf1a6 100644
--- a/packages/vite/migrations.json
+++ b/packages/vite/migrations.json
@@ -75,6 +75,10 @@
         "@vitest/coverage-istanbul": {
           "version": "^0.32.0",
           "alwaysAddToPackageJson": false
+        },
+        "@vitest/coverage-v8": {
+          "version": "^0.32.0",
+          "alwaysAddToPackageJson": false
         }
       }
     },
@@ -104,6 +108,10 @@
         "@vitest/coverage-istanbul": {
           "version": "^0.31.0",
           "alwaysAddToPackageJson": false
+        },
+        "@vitest/coverage-v8": {
+          "version": "^0.31.0",
+          "alwaysAddToPackageJson": false
         }
       }
     },
@@ -150,6 +158,10 @@
         "@vitest/coverage-istanbul": {
           "version": "^0.25.8",
           "alwaysAddToPackageJson": false
+        },
+        "@vitest/coverage-v8": {
+          "version": "^0.25.8",
+          "alwaysAddToPackageJson": false
         }
       }
     }
diff --git a/packages/vite/src/generators/vitest/schema.d.ts b/packages/vite/src/generators/vitest/schema.d.ts
index 0cc157eabb83ed..5b5039be218551 100644
--- a/packages/vite/src/generators/vitest/schema.d.ts
+++ b/packages/vite/src/generators/vitest/schema.d.ts
@@ -1,7 +1,7 @@
 export interface VitestGeneratorSchema {
   project: string;
   uiFramework: 'react' | 'none';
-  coverageProvider: 'c8' | 'istanbul';
+  coverageProvider: 'v8' | 'c8' | 'istanbul';
   inSourceTests?: boolean;
   skipViteConfig?: boolean;
   testTarget?: string;
diff --git a/packages/vite/src/generators/vitest/schema.json b/packages/vite/src/generators/vitest/schema.json
index cb84f962042dde..6f98e0f49bcb28 100644
--- a/packages/vite/src/generators/vitest/schema.json
+++ b/packages/vite/src/generators/vitest/schema.json
@@ -9,7 +9,9 @@
     "project": {
       "type": "string",
       "description": "The name of the project to test.",
-      "$default": { "$source": "projectName" }
+      "$default": {
+        "$source": "projectName"
+      }
     },
     "uiFramework": {
       "type": "string",
@@ -29,8 +31,8 @@
     },
     "coverageProvider": {
       "type": "string",
-      "enum": ["c8", "istanbul"],
-      "default": "c8",
+      "enum": ["v8", "c8", "istanbul"],
+      "default": "v8",
       "description": "Coverage provider to use."
     },
     "testTarget": {
diff --git a/packages/vite/src/generators/vitest/vitest-generator.ts b/packages/vite/src/generators/vitest/vitest-generator.ts
index c5ca7e709d524a..0ff7d26f4d8f8a 100644
--- a/packages/vite/src/generators/vitest/vitest-generator.ts
+++ b/packages/vite/src/generators/vitest/vitest-generator.ts
@@ -22,6 +22,7 @@ import initGenerator from '../init/init';
 import {
   vitestCoverageC8Version,
   vitestCoverageIstanbulVersion,
+  vitestCoverageV8Version,
 } from '../../utils/versions';
 
 import { addTsLibDependencies } from '@nx/js';
@@ -64,16 +65,14 @@ export async function vitestGenerator(
   createFiles(tree, schema, root);
   updateTsConfig(tree, schema, root);
 
+  const coverageProviderDependency = getCoverageProviderDependency(
+    schema.coverageProvider
+  );
+
   const installCoverageProviderTask = addDependenciesToPackageJson(
     tree,
     {},
-    schema.coverageProvider === 'istanbul'
-      ? {
-          '@vitest/coverage-istanbul': vitestCoverageIstanbulVersion,
-        }
-      : {
-          '@vitest/coverage-c8': vitestCoverageC8Version,
-        }
+    coverageProviderDependency
   );
   tasks.push(installCoverageProviderTask);
 
@@ -150,5 +149,24 @@ function createFiles(
   });
 }
 
+function getCoverageProviderDependency(
+  coverageProvider: VitestGeneratorSchema['coverageProvider']
+) {
+  switch (coverageProvider) {
+    case 'c8':
+      return {
+        '@vitest/coverage-c8': vitestCoverageC8Version,
+      };
+    case 'istanbul':
+      return {
+        '@vitest/coverage-istanbul': vitestCoverageIstanbulVersion,
+      };
+    default:
+      return {
+        '@vitest/coverage-v8': vitestCoverageV8Version,
+      };
+  }
+}
+
 export default vitestGenerator;
 export const vitestSchematic = convertNxGenerator(vitestGenerator);
diff --git a/packages/vite/src/utils/versions.ts b/packages/vite/src/utils/versions.ts
index cd3c3210791a3b..2af9c80c0d5de4 100644
--- a/packages/vite/src/utils/versions.ts
+++ b/packages/vite/src/utils/versions.ts
@@ -11,5 +11,6 @@ export const happyDomVersion = '~9.20.3';
 export const edgeRuntimeVmVersion = '~3.0.2';
 
 // Coverage providers
-export const vitestCoverageC8Version = '~0.32.0';
-export const vitestCoverageIstanbulVersion = '~0.32.0';
+export const vitestCoverageC8Version = '^0.32.0';
+export const vitestCoverageV8Version = '^0.32.0';
+export const vitestCoverageIstanbulVersion = '^0.32.0';