One of the most effective way of electrochemical machining (ECM) accuracy increase is to carry out process with application of voltage pulses. In one of the variants of ECM, ultra short (nono-or picosecond range) voltage pulses are applied. It gives possibility to achieve high localization of electrochemical dissolution process and allows to machine microparts with accuracy less than 0.01 mm. However, because of the process principles, this variant of ECM has number of limitations which stop its wider application in micromanufacturing industry. Based on the literature review, the physical principles of ultrashort voltage pulses electrochemical machining were presented and anodic dissolution localization issues were discussed. Also, differences between other electrochemical machining variants were underlined. It gave possibility to identify limitations and future perspectives of industrial applications.