The electrochemical interaction between graphite and molten salts to produce carbon nanostructures is reviewed. It is demonstrated that, depending on the conditions, it is possible to electrochemically convert graphite in molten salts to either carbon nanoparticles and nanotubes, metal filled carbon nanoparticles and nanotubes, graphene or nanodiamonds. The application of metal filled carbon nanotubes as anodes in lithium ion batteries is reviewed. Surprisingly, this method of preparation is relatively simple and very similar to the mass production of aluminium in molten sodium aluminium fluoride-alumina mixtures, which is performed economically on a tonnage scale, indicating that it may be possible to apply it for the production of novel carbon nanostructures.