diff --git a/packages/compiler-core/src/codegen.ts b/packages/compiler-core/src/codegen.ts
index d7d8b8bf..d95b22b6 100644
--- a/packages/compiler-core/src/codegen.ts
+++ b/packages/compiler-core/src/codegen.ts
@@ -891,7 +891,7 @@ function genTemplateLiteral(node: TemplateLiteral, context: CodegenContext) {
   for (let i = 0; i < l; i++) {
     const e = node.elements[i]
     if (isString(e)) {
-      push(e.replace(/`/g, '\\`'))
+      push(e.replace(/(`|\$|\\)/g, '\\$1'))
     } else {
       push('${')
       if (multilines) indent()
diff --git a/packages/compiler-ssr/__tests__/ssrText.spec.ts b/packages/compiler-ssr/__tests__/ssrText.spec.ts
index 281f518f..37c9646d 100644
--- a/packages/compiler-ssr/__tests__/ssrText.spec.ts
+++ b/packages/compiler-ssr/__tests__/ssrText.spec.ts
@@ -6,6 +6,21 @@ describe('ssr: text', () => {
     expect(getCompiledString(`foo`)).toMatchInlineSnapshot(`"\`foo\`"`)
   })
 
+  test('static text with template string special chars', () => {
+    expect(getCompiledString(`\`\${foo}\``)).toMatchInlineSnapshot(
+      `"\`\\\\\`\\\\\${foo}\\\\\`\`"`
+    )
+  })
+
+  test('static text with char escape', () => {
+    // the desired generated code should be `\\\$foo`
+    // snapshot -> inline snapshot goes through two escapes
+    // so that makes a total of 3 * 2 * 2 = 12 back slashes
+    expect(getCompiledString(`\\$foo`)).toMatchInlineSnapshot(
+      `"\`\\\\\\\\\\\\$foo\`"`
+    )
+  })
+
   test('comments', () => {
     expect(getCompiledString(`<!--bar-->`)).toMatchInlineSnapshot(
       `"\`<!--bar-->\`"`