diff --git a/charts/ingress-nginx/README.md b/charts/ingress-nginx/README.md
index 2c2dd2f37d..d79ad38cd8 100644
--- a/charts/ingress-nginx/README.md
+++ b/charts/ingress-nginx/README.md
@@ -273,7 +273,6 @@ As of version `1.26.0` of this chart, by simply not providing any clusterIP valu
 | controller.allowSnippetAnnotations | bool | `true` | This configuration defines if Ingress Controller should allow users to set their own *-snippet annotations, otherwise this is forbidden / dropped when users add those annotations. Global snippets in ConfigMap are still respected |
 | controller.annotations | object | `{}` | Annotations to be added to the controller Deployment or DaemonSet # |
 | controller.autoscaling.annotations | object | `{}` |  |
-| controller.autoscaling.apiVersion | string | `"autoscaling/v2"` |  |
 | controller.autoscaling.behavior | object | `{}` |  |
 | controller.autoscaling.enabled | bool | `false` |  |
 | controller.autoscaling.maxReplicas | int | `11` |  |
@@ -435,7 +434,6 @@ As of version `1.26.0` of this chart, by simply not providing any clusterIP valu
 | controller.watchIngressWithoutClass | bool | `false` | Process Ingress objects without ingressClass annotation/ingressClassName field Overrides value for --watch-ingress-without-class flag of the controller binary Defaults to false |
 | defaultBackend.affinity | object | `{}` |  |
 | defaultBackend.autoscaling.annotations | object | `{}` |  |
-| defaultBackend.autoscaling.apiVersion | string | `"autoscaling/v2"` |  |
 | defaultBackend.autoscaling.enabled | bool | `false` |  |
 | defaultBackend.autoscaling.maxReplicas | int | `2` |  |
 | defaultBackend.autoscaling.minReplicas | int | `1` |  |
diff --git a/charts/ingress-nginx/templates/controller-hpa.yaml b/charts/ingress-nginx/templates/controller-hpa.yaml
index d1e78bdfc6..96a91f5332 100644
--- a/charts/ingress-nginx/templates/controller-hpa.yaml
+++ b/charts/ingress-nginx/templates/controller-hpa.yaml
@@ -1,12 +1,9 @@
-{{- if and .Values.controller.autoscaling.enabled (or (eq .Values.controller.kind "Deployment") (eq .Values.controller.kind "Both")) -}}
-{{- if not .Values.controller.keda.enabled }}
-
-apiVersion: {{ .Values.controller.autoscaling.apiVersion }}
+{{- if and (or (eq .Values.controller.kind "Deployment") (eq .Values.controller.kind "Both")) .Values.controller.autoscaling.enabled (not .Values.controller.keda.enabled) -}}
+apiVersion: {{ ternary "autoscaling/v2" "autoscaling/v2beta2" (.Capabilities.APIVersions.Has "autoscaling/v2") }}
 kind: HorizontalPodAutoscaler
 metadata:
-  annotations:
   {{- with .Values.controller.autoscaling.annotations }}
-  {{- toYaml . | trimSuffix "\n" | nindent 4 }}
+  annotations: {{ toYaml . | nindent 4 }}
   {{- end }}
   labels:
     {{- include "ingress-nginx.labels" . | nindent 4 }}
@@ -24,18 +21,18 @@ spec:
   minReplicas: {{ .Values.controller.autoscaling.minReplicas }}
   maxReplicas: {{ .Values.controller.autoscaling.maxReplicas }}
   metrics:
-  {{- with .Values.controller.autoscaling.targetMemoryUtilizationPercentage }}
+  {{- with .Values.controller.autoscaling.targetCPUUtilizationPercentage }}
   - type: Resource
     resource:
-      name: memory
+      name: cpu
       target:
         type: Utilization
         averageUtilization: {{ . }}
   {{- end }}
-  {{- with .Values.controller.autoscaling.targetCPUUtilizationPercentage }}
+  {{- with .Values.controller.autoscaling.targetMemoryUtilizationPercentage }}
   - type: Resource
     resource:
-      name: cpu
+      name: memory
       target:
         type: Utilization
         averageUtilization: {{ . }}
@@ -48,5 +45,3 @@ spec:
     {{- toYaml . | nindent 4 }}
   {{- end }}
 {{- end }}
-{{- end }}
-
diff --git a/charts/ingress-nginx/templates/default-backend-hpa.yaml b/charts/ingress-nginx/templates/default-backend-hpa.yaml
index 924125f079..faaf4fa750 100644
--- a/charts/ingress-nginx/templates/default-backend-hpa.yaml
+++ b/charts/ingress-nginx/templates/default-backend-hpa.yaml
@@ -1,37 +1,40 @@
 {{- if and .Values.defaultBackend.enabled .Values.defaultBackend.autoscaling.enabled }}
-apiVersion: {{ .Values.defaultBackend.autoscaling.apiVersion }}
+apiVersion: {{ ternary "autoscaling/v2" "autoscaling/v2beta2" (.Capabilities.APIVersions.Has "autoscaling/v2") }}
 kind: HorizontalPodAutoscaler
 metadata:
+  {{- with .Values.defaultBackend.autoscaling.annotations }}
+  annotations: {{ toYaml . | nindent 4 }}
+  {{- end }}
   labels:
     {{- include "ingress-nginx.labels" . | nindent 4 }}
     app.kubernetes.io/component: default-backend
     {{- with .Values.defaultBackend.labels }}
     {{- toYaml . | nindent 4 }}
     {{- end }}
-  name: {{ template "ingress-nginx.defaultBackend.fullname" . }}
+  name: {{ include "ingress-nginx.defaultBackend.fullname" . }}
   namespace: {{ .Release.Namespace }}
 spec:
   scaleTargetRef:
     apiVersion: apps/v1
     kind: Deployment
-    name: {{ template "ingress-nginx.defaultBackend.fullname" . }}
+    name: {{ include "ingress-nginx.defaultBackend.fullname" . }}
   minReplicas: {{ .Values.defaultBackend.autoscaling.minReplicas }}
   maxReplicas: {{ .Values.defaultBackend.autoscaling.maxReplicas }}
   metrics:
-{{- with .Values.defaultBackend.autoscaling.targetCPUUtilizationPercentage }}
-    - type: Resource
-      resource:
-        name: cpu
-        target:
-          type: Utilization
-          averageUtilization: {{ . }}
-{{- end }}
-{{- with .Values.defaultBackend.autoscaling.targetMemoryUtilizationPercentage }}
-    - type: Resource
-      resource:
-        name: memory
-        target:
-          type: Utilization
-          averageUtilization: {{ . }}
-{{- end }}
+  {{- with .Values.defaultBackend.autoscaling.targetCPUUtilizationPercentage }}
+  - type: Resource
+    resource:
+      name: cpu
+      target:
+        type: Utilization
+        averageUtilization: {{ . }}
+  {{- end }}
+  {{- with .Values.defaultBackend.autoscaling.targetMemoryUtilizationPercentage }}
+  - type: Resource
+    resource:
+      name: memory
+      target:
+        type: Utilization
+        averageUtilization: {{ . }}
+  {{- end }}
 {{- end }}
diff --git a/charts/ingress-nginx/values.yaml b/charts/ingress-nginx/values.yaml
index 3a9629d638..a398b05037 100644
--- a/charts/ingress-nginx/values.yaml
+++ b/charts/ingress-nginx/values.yaml
@@ -326,7 +326,6 @@ controller:
       memory: 90Mi
   # Mutually exclusive with keda autoscaling
   autoscaling:
-    apiVersion: autoscaling/v2
     enabled: false
     annotations: {}
     minReplicas: 1
@@ -838,7 +837,6 @@ defaultBackend:
   #    emptyDir: {}
 
   autoscaling:
-    apiVersion: autoscaling/v2
     annotations: {}
     enabled: false
     minReplicas: 1