Noise source localization of rotating machinery plays an important role in machinery noise diagnosis and control. Various beamforming methods have been developed for stationary sound source localization. However, for rotating machinery working under time-varying speed conditions, the radiated acoustic signals are typically nonstationary. Under these conditions, characterizing and localizing nonstationary sound sources remains a challenge. Permanent magnet synchronous motors are one of the most widely used rotating machinery in modern industries and often work under variable speed conditions. Herein, the noise source localization problem of motors under time-varying speed conditions was studied. A nonstationary noise source localization method based on the Vold-Kalman filter and time-domain beamforming is proposed to restore the spatial acoustic maps of permanent magnet synchronous motors(PMSMs) at a characteristic order. First, the Vold-Kalman filter is adopted to extract acoustic signals at a characteristic order from the nonstationary measurements using a microphone array. Then, the filtered multichannel acoustic signals are fed into the time-domain beamforming algorithm to obtain the noise source localization result in a characteristic order. Combining Vold-Kalman filter with time-domain beamforming enables the characterization of non-stationary sound sources in the time, spatial, and order domains. The experimental results verify the effectiveness of the proposed method in noise source localization for motors under time-varying speed conditions. In addition, the experimental case with two motors further proves that the proposed method can simultaneously realize noise source separation at different characteristic orders.