diff --git a/src/libexpr/primops/fetchGit.cc b/src/libexpr/primops/fetchGit.cc
index 7aa98e0b..aeb2df5f 100644
--- a/src/libexpr/primops/fetchGit.cc
+++ b/src/libexpr/primops/fetchGit.cc
@@ -3,6 +3,7 @@
 #include "download.hh"
 #include "store-api.hh"
 #include "pathlocks.hh"
+#include "hash.hh"
 
 #include <sys/time.h>
 
@@ -84,9 +85,10 @@ GitInfo exportGit(ref<Store> store, const std::string & uri,
     if (rev != "" && !std::regex_match(rev, revRegex))
         throw Error("invalid Git revision '%s'", rev);
 
-    Path cacheDir = getCacheDir() + "/nix/git";
+    Path cacheDir = getCacheDir() + "/nix/gitv2/" + hashString(htSHA256, uri).to_string(Base32, false);
 
     if (!pathExists(cacheDir)) {
+        createDirs(dirOf(cacheDir));
         runProgram("git", true, { "init", "--bare", cacheDir });
     }
 
diff --git a/tests/fetchGit.sh b/tests/fetchGit.sh
index 530ac7bb..4c46bdf0 100644
--- a/tests/fetchGit.sh
+++ b/tests/fetchGit.sh
@@ -9,7 +9,7 @@ clearStore
 
 repo=$TEST_ROOT/git
 
-rm -rf $repo ${repo}-tmp $TEST_HOME/.cache/nix/git
+rm -rf $repo ${repo}-tmp $TEST_HOME/.cache/nix/gitv2
 
 git init $repo
 git -C $repo config user.email "foobar@example.com"
@@ -129,7 +129,7 @@ path5=$(nix eval --raw "(builtins.fetchGit { url = $repo; ref = \"dev\"; }).outP
 
 
 # Nuke the cache
-rm -rf $TEST_HOME/.cache/nix/git
+rm -rf $TEST_HOME/.cache/nix/gitv2
 
 # Try again, but without 'git' on PATH
 NIX=$(command -v nix)