UPDATE 1-Nissan, Renault to co-develop platforms - Nikkei

Sept 23 (Reuters) - Japan's third-largest automaker Nissan Motor Co (7201.T) and its 44 percent owner Renault SA of France (RENA.PA) will jointly develop a platform for at least 10 models to winnow suppliers and reduce procurement costs, the Nikkei business daily said.

The companies plan to design a common platform for midsize sport utility vehicles and sedans, and also plan to standardize 70 key components -- including windows and brakes -- that make up about 80 percent of the total cost for parts and materials, the daily said.

Nissan's X-Trail and Dualis SUVs and Renault's Fluence sedan and Megane are among the models that will share the platform and components, Nikkei said.

The companies expect to cut parts procurement costs for midsize vehicles by about 30 percent, or several hundred billion yen a year, through bulk purchasing the daily said.

The common platform and standardized parts will be used in vehicles beginning 2013 and will account for about 1.5 million units a year -- roughly a quarter of the total that the two automakers sold globally last year, Nikkei said.

Although the two automakers started buying materials and parts through a joint procurement entity in April 2009, cost benefits have been limited so far as they share only eight types of components, it added. (Reporting by Shravya Jain in Bangalore; Editing by Aradhana Aravindan)