This paper presents a transient SEA (Statistical Energy Analysis) approach to predict the structure-borne interior noise in trains from an induction motor controlled by multi-mode PWM (Pulse Width Modulation). Most of the induction motors installed in trains are controlled by multi-mode PWM, which switches between asynchronous and synchronous modes according to the speed to reduce switching losses. This control causes the electromagnetic forces of PWM harmonics to change, resulting in a transient interior noise depending on the vehicle’s speed. In this paper, we model the bogie using FEM to calculate the transmission of the electromagnetic forces to the vehicle body through traction bars and dampers. Next, we model the vehicle body using a transient SEA to calculate transient energy in a 1/3 octave band excited by the transmitted electromagnetic forces. Finally, we restore the waveform of interior noise by applying the appropriate phase to the transient energy to auralize the analysis result. We obtained reasonable agreement by comparing the analysis results of the interior noise with the actual measurements.