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The IC is most likely a 5V specific or a variable regulator tuned to 5V. The 12-15V car electrical system must be stepped down to 5V expected by the Pre as a USB bus based charging system. This IC is doing that step down.
The intelligent chip most likely is sensing the current pulled through the chip. With the Pre in anything be sleep mode, I would expect the chip to never shut down, as the Pre will pull power from external sources before it draws from the battery.
So in otherwords, it is marketing mumbo jumbo.
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